Aterian Investment Partners has sold Chattanooga, Tennessee-based Burner Systems International Inc, to Robertshaw US Holding Corp. No financial terms were disclosed.
NEW YORK, June 16, 2016 /PRNewswire/ — Aterian Investment Partners (“Aterian”), a leading private equity firm, announces that one of its affiliates has completed the sale of Burner Systems International, Inc. (“Burner Systems” or the “Company”) to Robertshaw US Holding Corp. (“Robertshaw”).
Following the acquisition of Burner Systems, Aterian invested substantially in strategic growth initiatives, new equipment, innovation and an add-on acquisition in South America to further support its global long-term business plan and customer base.
Founded in 1960, Burner Systems is among the largest global suppliers of components, assemblies and system solutions for the gas-fueled cooking and heating appliance industry. Headquartered in Chattanooga, Tennessee, and with additional manufacturing facilities in Mexico and the United Kingdom, Burner Systems maintains market-leading positions with a broad spectrum of OEM’s. As part of Robertshaw, Burner Systems will be focused on the continued expansion of their broad-based portfolio of products and services.
“We want to thank Aterian for their unwavering support and investment behind our growth, operating and organizational plan to further advance Burner Systems as the North American market leader in gas components,” said Eric Griesemer, CEO of Burner Systems. “We are appreciative of Aterian’s partnership and significant contribution to Burner Systems and look forward to continue this success with Robertshaw as we enter the next phase of our growth strategy.”
Christopher H. Thomas, Partner at Aterian, added “Burner Systems is a strong Company with market-leading technology. It has been a pleasure to partner with the highly talented Burner Systems management team and invest in the Company’s employees, product offering, innovation and international growth. We wish Burner Systems the best of success and look forward to watching Robertshaw and the Company in its continued progress.”
“In concert with our new partner Robertshaw, this acquisition puts Burner Systems in an incredible position to serve the gas appliance industry. Robertshaw is a known and respected worldwide leader in appliance components. With their support, we will continue to develop our innovative product portfolio and offer even greater value to our customers,” said Eric Griesemer.
About Burner Systems International, Inc.
Burner Systems International is a leading global manufacturer of components and full assemblies for the global gas cooking industry. BSI serves a broad spectrum of OEM’s with the most complete gas technologies available, including capabilities for engineering, testing, and manufacturing to support customer designs. BSI’s strategically located facilities provide high quality, low-cost assemblies and system solutions on a competitive timeframe. For more information, please visit www.burnersystems.com/
With a history dating back to 1899, Robertshaw is a leading designer, engineer and manufacturer of product solutions to the white goods industry. Robertshaw employs over 4,800 employees in 10 countries, has three engineering centers, nine manufacturing locations, and seven distribution centers worldwide. For more information, please visit www.robertshaw.com
About Aterian Investment Partners
Aterian is a leading private equity firm with a focus on partnering with middle-market businesses possessing strong, proven franchises. The firm provides resources to further enhance operations, growth and investment initiatives. Aterian specializes in complex and operationally-intense situations primarily across industrials, chemicals & commodities, metals & mining, retail, consumer products and healthcare services. For more information, please visit www.aterianpartners.com