JOHNSTOWN — Johnstown Wire Technologies, which employs 260 people, has been acquired by Aterian Investment Partners, a leading private equity firm, according to a press release issued this morning.
Johnstown Wire is the largest independent producer of high-quality, value-added carbon and alloy wire in North America. It focuses on customized specialty wire products consisting of cold heading
quality, plated, and premium direct-drawn products where metallurgical quality is the differentiating factor.
Headquartered in Johnstown, and formed from Bethlehem Steel, the company’s products are sold into a variety of end markets, including transportation, construction, utilities, and select consumer durables.
“For more than 100 years, Johnstown Wire has been a leader with unmatched depth and breadth of its product portfolio and excellence in quality and customer service," Christopher H. Thomas, partner of Aterian, said in the press release. "We look forward to working with management and supporting the company in its growth and strategic initiatives while delivering value to its customers.”
Walt Robertson, president of Johnstown Wire, said, “This transaction is a significant step in the
company’s history. Aterian is a firm with a demonstrated track record of expanding product development and capabilities, investing in operations, and growing businesses alongside management. Aterian’s support will allow Johnstown to continue to drive results through execution of its strategic plan and its relentless focus on product excellence and customer service.”
Aterian Investment Partners is an operationally-focused middle market private equity firm. The firm
focuses on complex, underperforming and unique situations generating $25 million to $500 million of
revenue. 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.
The Tribune-Democrat will have more on this developing story.