PE-backed Vander-Bend acquires J.L. Haley Enterprises

Vander-Bend Manufacturing Inc, a portfolio company of Aterian Investment Partners, has acquired Rancho Cordova-based J.L. Haley Enterprises Inc, a metal fabrication manufacturer. No financial terms were disclosed.


SAN JOSE, Calif., Jan. 29, 2019 /PRNewswire/ — Vander-Bend Manufacturing, Inc. (“Vander-Bend”), a portfolio company of Aterian Investment Partners (“Aterian”), is pleased to announce the acquisition of J.L. Haley Enterprises, Inc. (“Haley” or the “Company”).

Based in Rancho Cordova, California, Haley is a niche metal fabrication manufacturer with a longstanding history of providing high quality complex assemblies utilized primarily in mission critical cancer treatment equipment applications. Haley’s core capabilities include development, engineering, CNC machining, sheet metal fabrication, and assembly. Together with Vander-Bend, the combined company is a niche supplier of scale to many high growth and critical end markets including robotic surgery, radiation oncology equipment, and datacenter infrastructure, among others.

The acquisition of Haley by Vander-Bend is highly strategic and represents a continuation of Aterian’s growth and operational transformation initiatives. In just the seven months since the acquisition of Vander-Bend in May 2018, Aterian has opened, equipped and fully staffed a second manufacturing facility in Stockton, California, completed a substantial machining capital equipment expansion plan in its San Jose, California facility, has materially expanded headcount as well as invested in other key customer support functions. The acquisition of Haley provides significant additional scale and further entrenches Vander-Bend into its core end markets.

Additionally, Vander-Bend and Haley have a rich cultural fit and will utilize each other’s complementary capabilities and footprint to continue providing best-in-class quality and support to its core customers.

“We are excited to add Haley to the Vander-Bend family.” stated Greg Biggs, Chief Executive Officer at Vander-Bend. “Haley has a rich history providing quality products and will expand Vander-Bend’s position as a regional leader in the space. We look forward to growing as a combined company and continue expanding our service and capabilities for our core customers.”
Steve, Julie, and Meghan Haley, the founding family of J.L. Haley, stated “This transaction allows the legacy of J.L. Haley to continue with a company that shares a similar culture and vision for the future. We are deeply appreciative of all of the support from our employees, customers and vendors as we transition into this next phase.”

Brandon Bethea, Partner at Aterian, said “We are excited to combine Vander-Bend with J.L. Haley. This combination creates a unique and differentiated machining and metal fab solutions provider to the medtech and data technology infrastructure end markets.”

Daniel Phan, Principal at Aterian, said “This transaction supports Aterian’s track record on executing of family / founder situations. The combined company is well situated to continue its pathway to growth.”

Marc Gould of Ventoux Securities, LLC advised the Seller on the transaction. Weil Gotshal & Manges LLP advised Aterian.

About J.L. Haley
Founded in 1974 and based in Rancho Cordova, California, Haley is a specialized metal fabrication manufacturer, specializing in parts used primarily in critical medical device applications. The Company has a longstanding history of providing highly complex assemblies utilized in mission critical cancer treatment applications with capabilities including development, engineering, CNC machining, sheet metal fabrication, and assembly with best-in-class quality.

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About Vander-Bend Manufacturing
Headquartered in San Jose, California, Vander-Bend specializes in providing manufacturing solutions to its customers operating in high growth and dynamic end markets. Vander-Bend has been serving its customers for nearly 38 years and provides prototyping and development support, followed by complex manufacturing adhering to the highest quality standards.

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About Aterian Investment Partners
Aterian Investment Partners is an operationally-focused middle market private equity firm that provides resources to companies to further enhance growth, operations and investment initiatives. The firm invests in businesses generating $25 million to $500 million of annual revenue with strong, proven franchises. After making an investment, Aterian, in partnership with management, seeks to focus on the critical growth, operational and liquidity initiatives of a business in an effort to drive value creation for all stakeholders.

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