ALBANY - Stein Fibers has received a significant investment from private equity firm Aterian Investment Partners.
The undisclosed investment in Stein Fibers is the fourth investment from Aterian's Fund IV, an US$834 million investment vehicle.
Founded in 1976 and headquartered in Albany, New York, Stein Fibers is a distributor and manufacturer of fibre products to the North American furniture, bedding, automotive, filtration, construction and medical markets.
It offers a wide portfolio of fibre and fabrics products across the industry, maintaining a focus on sustainability.
"We could not be more excited to partner with Aterian as we proceed into Stein Fibers' next phase of growth," said Chip Stein and Peter Spitalny, Co-Owners of Stein Fibers. "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."
Michael Fieldstone, Co-Founder & Partner at Aterian, added: "We are thrilled to partner with the talented Stein Fibers team to continue growing the leading supply chain solutions provider in the fiber industry. Over its history, Stein Fibers has expertly navigated an ever-changing global supply chain environment while maintaining excellent customer service and quality."