Bluewater Thermal Solutions Sells Nine Facilities
Aterian Investment Partners announced that its portfolio company Bluewater Thermal Solutions completed the sale of nine industrial facilities to STORE Capital Corp., a leader in middle-market capital solutions. The deal consists of heat-treating plants in Illinois, Michigan, Indiana, Pennsylvania and Ontario (Canada) totaling more than 500,000 square feet. In conjunction with the sale, Bluewater simultaneously entered into a long-term lease with STORE at each of the locations. Bluewater is a leading provider of heat-treating services and solutions to a number of North American manufacturing industries. According to STORE, its ability to provide a tailored, flexible solution and act quickly enabled Bluewater to free up significant capital to accelerate several key growth initiatives.