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Great Point Partners Exits Investment in SteriPack
INTRODUCTION
GREENWICH, CT and MULLINGAR, IRELAND – Great Point Partners (“GPP”), a Greenwich-based private investment firm focused exclusively on the health care industry, announced today that it has exited its investment in SteriPack Group (“SteriPack” or the “Company”) to Inflexion, a market-leading private equity firm. With facilities in Poland, the United States, and Malaysia, SteriPack is a global contract manufacturer providing integrated solutions for medical device, diagnostic, and pharmaceutical combination products. The Company provides award winning product design & development, human factors research & engineering, design for manufacturing, regulatory, quality assurance, manufacturing, sterilization, and supply chain management.
Bret Tenenhaus, Principal at GPP, commented, “In 2019 we were proactively searching globally for an investment in the medical device manufacturing sector. We wanted a platform whose leaders saw the value of both vertical integration of capabilities and geographic expansion. During our ownership period SteriPack grew revenue approximately 40% per year by expanding its business lines through both organic investments and two add-on acquisitions. We were fortunate to work with great entrepreneurs and leaders at SteriPack and look forward to watching the Company prosper for years to come.”
“When I joined SteriPack, I was excited to partner with Great Point because of their health care expertise, track record of success in life sciences manufacturing services, and trans-Atlantic M&A experience. I am proud of what we have all accomplished together and the bright future ahead,” Andrew McLean, Chief Executive Officer at SteriPack, stated.
“GPP sourced and led the negotiations of our two U.S. based design & development acquisitions: New Jersey based HS Design and Colorado-based Halleck Willard, Inc” added David Lennon, Chairman of SteriPack. “These have exceeded our own expectations and opened doors into several new growth opportunities already.”
CMD Global Partners served as financial advisor to SteriPack, and Maples served as the Company’s legal counsel.
About Great Point Partners
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new minority and majority private equity investments from GPP III. Great Point manages $1.6B of capital (including GPP IV which has been closed but not been activated) in its private funds and public life sciences equity strategy (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies
About SteriPack
SteriPack is a flexible and responsive global contract manufacturer providing comprehensive partner solutions for medical device, diagnostic, and pharmaceutical combination products. SteriPack offers a full suite of integrated product lifecycle solutions, including contract manufacturing, contract packaging, and injection molding services. SteriPack supports its customers from initial concept, design & development to product realization, including product lifecycle management solutions such as regulatory, quality, laboratory testing, sterilization, and supply chain management.
Learn more at steripackgroup.com