GREENWICH, Conn. &
MULLINGAR, Ireland, June 17, 2019 /PRNewswire-PRWeb/ -- Great
Point Partners ("GPP"), a Greenwich-based private investment firm
focused on the health care industry, today announced the growth
recapitalization of SteriPack ("SteriPack" or the "Company"). The
Company is a leading contract manufacturing and value-added
services company serving the medical device and pharmaceutical
industries. SteriPack has been a continuous innovator in the
markets that it serves and has grown both its breadth of services
as well as geographic presence. From its original base of
operations in Ireland, the Company
extended its geographic footprint by adding facilities in
Poland (2006), Malaysia (2009) and the United States (2012). SteriPack acts as a
"one-stop-shop" solution for their customers by providing a full
breadth of services from engineering through production and
distribution.
"Since Garry Moore founded the business in 1994, SteriPack has
been a constant innovator in the medical device contract
manufacturing industry and the Company has continuously evolved to
meet their clients' needs through superior customer service and an
uncompromising commitment to quality," said Adam Dolder, Managing Director at GPP.
SteriPack has over 650 employees worldwide and is constantly
looking to expand its capabilities and reach, through both organic
growth and add-on acquisitions. "Garry
Moore (CEO), Aidan O'Brien
(CFO), and the entire SteriPack team have done a phenomenal job
leading the Company through two decades of growth. We look forward
to helping them expand their global presence and accelerating that
growth with an aggressive add-on acquisition strategy as we have
done in many of our other successful investments," added
Bret Tenenhaus, Vice President at
GPP.
"Great Point's impressive track record of investing in the
health care manufacturing industry and their experience with
bolt-on acquisitions made them an ideal partner to help accelerate
SteriPack's growth," said Garry
Moore, founder and CEO of SteriPack. "We have built a great
relationship with Great Point since 2015 and are excited to have
them as partners, as we strive to better serve our customers around
the world."
As part of Great Point's investment, Robert Thomas of Great Point's CEO Advisory
Board will join SteriPack's Board of Directors. Mr. Thomas is the
former CEO of FoxHollow Technologies, which ultimately achieved a
market capitalization of more than $1
billion prior to its sale to EV3.
About Great Point Partners
Great Point Partners ("GPP"), founded in 2003 and based in
Greenwich, CT, is a leading health
care investment firm with approximately $1.6
billion of equity capital currently under management and 28
professionals, investing in the United
States, Canada, and
Western Europe. GPP is currently
making new private equity investments from GPP III, which has
committed capital of $286 million.
Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III,
$286 million in committed capital)
and public equity funds (BMVF, approximately $1.1 billion). Great Point Partners has provided
growth equity, growth recapitalization, and management buyout
financing to more than 100 growing health care companies. The
private equity funds invest across all sectors of the health care
industry with particular emphasis on (i) biopharmaceutical/medical
device infrastructure, services and supplies, (ii) alternate site
care, and (iii) healthcare technology enabled businesses. The firm
pursues a proactive and proprietary approach to sourcing
investments and tuck-in acquisitions for its portfolio companies.
Reach Great Point at 203-971-3300
or http://www.gppfunds.com.
About SteriPack
SteriPack is a leading contract manufacturing and value-added
service provider to the medical device and pharmaceutical
(primarily drug-device combination products) industries. Serving
some of the largest names in the medical device industry, the
Company has experienced impressive customer retention and provides
the highest quality and customer service. Headquartered in
Ireland with 650 employees,
SteriPack operates facilities in Poland, Malaysia, and the
United States, a critical and differentiating element for
its global client base. SteriPack's international footprint, high
quality products, and integrated services created a strong brand
presence in the contract manufacturing market, allowing the company
to develop long-standing relationships with blue chip device
companies. For more information, please
visit https://steripackgroup.com/.
SOURCE Great Point Partners