Aterian invests in manufacturer Stein Fibers

• Stein Fibers is the fourth investment from Aterian’s Fund IV, an $834 million investment vehicle
• Stein Fibers was founded in 1976
• Aterian invests in middle-market businesses

Aterian Investment Partners has made an investment in Albany, New York-based Stein Fibers, a provider of fiber products to the North American furniture, bedding, automotive, filtration, construction and medical markets.

No financial terms were disclosed.

Stein Fibers is the fourth investment from Aterian’s Fund IV, an $834 million investment vehicle.

Stein Fibers was founded in 1976.

On the transaction, Chip Stein and Peter Spitalny, co-owners of Stein Fibers, said in a statement: “We could not be more excited to partner with Aterian as we proceed into Stein Fibers’ next phase of growth. We chose Aterian due to their focus on maintaining company culture developed over decades, commitment to an expedient process, and experience in partnering with family founders like us. We are confident that Aterian is the perfect partner to help us execute on our growth plan both organically and through M&A.”

Kirkland & Ellis LLP, PricewaterhouseCoopers LLP, and Stout Capital, LLC advised Aterian on the deal.
Aterian invests in middle market businesses. With offices in New York and Florida, Aterian has raised cumulative equity commitments of more than $1.5 billion since its founding in 2009.