Aterian hires Sun principal

The private investment firm, which was founded by former Sun principal Michael Fieldstone in 2009, has brought in another former Sun principal to help lead the firm.

Aterian Investment Partners has hired Christopher Thomas, a former principal at Sun Capital Partners, to join the New York-based private investment firm as partner, the firm said in a statement.

Thomas, who spent seven years at Sun, has experience covering the buyout, equity and debt markets in the US, Europe and Asia.

“I had an opportunity to move over to Aterian, where I would be a partner in their committed fund and focus on an industry where I had a lot of deep expertise and tremendous transaction experience,” Thomas told Private Equity International. “In addition to that, I have a very good relationship with the partners here. I’ve known them for years.”

Thomas left Sun on good terms, he said.

The firm maintains an independent fund, which will focus on corporate carve-outs, turnarounds and bankruptcy restructurings of businesses generating $25 million to $500 million, providing up to $50 million of capital per deal, Thomas said. The firm would not disclose the size of its current fund and has no immediate plans to fundraise.

Last year, Aterian completed the purchase of the Chemtura Corporation’s PVC additives business in a joint deal with NY Artek Surfin Chemicals for a reported $16.2 million.

Aterian was founded in 2009 by Michael Fieldstone, formerly a principal at Sun and Apollo Global Management. Brandon Bethea, previously a principal at Insight Equity, joined the firm as partner earlier this year, Thomas said.