Edgewater Capital Partners, a private equity firm focused on investing in performance materials and services businesses, has bought NeoGraf Solutions LLC from Aterian Investment Partners.

NeoGraf is a designer, manufacturer and application development company focused on graphite products. The company is headquartered in Lakewood, Ohio, and serves applications in the electric vehicle, graphene and nanomaterials, alternative energy, electronic thermal management, industrial seals and gaskets in flow control, petrochemical, nuclear, building and construction and flame retardancy sectors.

BDA Partners and Kirkland & Ellis LLP advised NeoGraf.