An affiliate of private equity firm Aterian Investment Partners has completed the carve-out acquisition of ten heat treating facilities in the US and Canada from Bluewater Thermal Solutions.

The acquired plants will continue to operate under the Bluewater name.   

Bluewater is a provider of heat treating services and solutions to a number of North American manufacturing industries.  The company provides a range of metallurgical heat-treating processes in which metal parts are exposed to precise temperatures, atmospheres, quenchants, and other conditions to improve their mechanical properties, durability, and wear resistance. 

Bluewater has locations in Michigan, Illinois, Indiana, Pennsylvania and Canada. From these locations, Bluewater services over 2,000 customers in the automotive, heavy truck, aerospace, construction, agriculture and energy industries.

Mike Wellham, chief executive officer of Bluewater, says: "Aterian is a private equity firm with a demonstrated track record of supporting and growing businesses alongside management. We expect our new partnership with Aterian to make us even stronger and are excited to begin this new chapter with them. With Aterian's support, Bluewater will continue to drive results through execution of our strategic plan and a relentless focus on customer service."

Brandon Bethea, partner of Aterian, says: "It is a pleasure to add Bluewater to the Aterian portfolio and to collaborate with an excellent management team. Bluewater is a clear market leader and provides exceptional value to its customers as part of a mission critical supply chain function. We are impressed by the strength of the company's long-standing customer relationships as well as the operational initiatives implemented by the company over the last several years to further enhance the company's product and service offering. We look forward to supporting the company's continued efforts to expand the business both organically and through strategic acquisitions."