Vander-Bend Manufacturing, Inc., a portfolio company of Aterian Investment Partners based in San Jose, CA, has acquired J.L. Haley Enterprises, Inc. Based in Rancho Cordova, CA, Haley is a niche metal fabrication manufacturer of high-quality complex assemblies used 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.
"We are excited to add Haley to the Vander-Bend family," says 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."
According to the company, 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, CA, completed a substantial machining capital equipment expansion plan in its San Jose, CA, facility, has materially expanded head count 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, the company says that 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.
"This transaction allows the legacy of J.L. Haley to continue with a company that shares a similar culture and vision for the future," note Steve, Julie, and Meghan Haley, the founding family of J.L. Haley. We are deeply appreciative of all of the support from our employees, customers, and vendors as we transition into this next phase."
Marc Gould of Ventoux Securities, LLC advised the Seller on the transaction. Weil Gotshal & Manges LLP advised Aterian.