AUSTIN,
Texas, April 11, 2024 /PRNewswire/ -- An
affiliate of Peak Rock Capital ("Peak Rock"), a leading
middle-market private equity firm, announced today that it has
signed a definitive agreement to acquire the dental segment
("HuFriedyGroup" or the "Company") of STERIS plc (NYSE:STE)
("STERIS").
Founded in 1908, HuFriedyGroup is a leading global manufacturer
of high-quality instruments, infection prevention products,
instrument management systems, and conscious sedation products for
the dental industry. The Company has industry leading brands,
including Hu-Friedy, Crosstex, Omnia, and Accutron.
Headquartered in Chicago,
Illinois, the Company serves customers in ~100 countries,
and is supported by a base of ~1,500 employees across over 20
global manufacturing facilities and locations. The Company
has built a strong reputation in the industry for its outstanding
quality, broad product offerings, efficient workflow solutions, and
ergonomic instrument designs.
Spencer Moore, Managing Director
of Peak Rock Capital, said, "HuFriedyGroup's differentiated brands,
high-quality product offerings, strong customer base, and
outstanding team make this a highly compelling investment
opportunity. We look forward to partnering with the
management team and employees to drive further new product
innovation and accelerated organic growth. We're also excited
to help the team pursue complimentary acquisitions to extend the
product and brand portfolio."
Andy Xilas, President of
HuFriedyGroup, remarked, "Peak Rock has a long track record of
helping companies accelerate growth and a shared vision of
supporting our employees in providing leading products to the
dental industry. Their ability to constructively navigate the
complexities of a carve-out transaction gives us great confidence
as we work to complete the separation from STERIS. We believe
our partnership with Peak Rock will help HuFriedyGroup continue its
mission of helping dental professionals around the world be Best in
Practice through world-class products, services, education, and
communities that result in superior clinician performance, optimal
clinical outcomes, and enhanced safety for clinicians and
patients."
Anthony DiSimone, Chief Executive
Officer of Peak Rock, added, "This investment exemplifies Peak
Rock's deep experience and capability in executing complex
carve-out transactions. It also highlights our continuing
efforts to expand our investments in resilient businesses in the
healthcare sector. We believe that HuFriedyGroup represents
an excellent platform for growth through near-term organic
initiatives and strategic acquisitions."
ABOUT HUFRIEDY GROUP
HuFriedyGroup is a leading global manufacturer of dental
instruments, instrument management systems, infection control
products, and conscious sedation equipment and accessories under
the HuFriedy, Crosstex, Omnia, and Accutron brands. Its 10,000-plus
products are known for their precision, performance, longevity,
reliability, and quality. HuFriedyGroup helps dental
professionals be the best in practice by bringing together
world-class products, services, education, and communities that
result in superior clinician performance, clinical outcomes, and
enhanced safety for clinicians and patients. Founded in 1908
and headquartered in Chicago,
HuFriedyGroup products are distributed in ~100 countries, and is
supported by a base of ~1,500 employees across over 20 global
manufacturing facilities and locations. For more information visit
https://www.hufriedygroup.com.
ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is a leading middle-market private investment
firm that makes equity and debt investments in companies in
North America and Europe.
Peak Rock's equity investment platform focuses on opportunities
where it can support senior management to drive rapid growth and
profit improvement, with expertise in corporate carve-outs and
partnering with families and founders seeking first-time
institutional capital. Peak Rock's credit platform invests
across capital structures, with a broad mandate to provide
flexible, tailored capital solutions to middle-market and
growth-oriented businesses. Peak Rock's real estate platform makes
equity and debt investments in small to mid-sized real estate
assets in attractive, growing geographies. For further information
about Peak Rock Capital, please visit
www.peakrockcapital.com.
Media Contact:
Daniel Yunger
Kekst CNC
(212) 521-4800
Daniel.yunger@kekstcnc.com
View original
content:https://www.prnewswire.com/news-releases/peak-rock-capital-affiliate-signs-definitive-agreement-to-acquire-hufriedygroup-302114327.html
SOURCE Peak Rock Capital LLC