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Connell C - LB Mar 2022

Inflexion leads buyout of SteriPack

SteriPack

Private equity firm Inflexion Private Equity Partners has led the buyout of SteriPack, a contract manufacturer serving the medical device, pharmaceutical and diagnostic markets.

SteriPack provides product life-cycle management services including product design and development, human factors research and engineering, regulatory, quality assurance, design for manufacturing, manufacturing, sterilisation, and supply chain management. The company employs over 650 people from locations in Ireland, Poland, Malaysia, and the US, and has more than 100 clients.

Inflexion’s funding will allow the business to continue to scale globally and leaves it well placed to undertake acquisitions.

In 2016, a majority stake in the business was sold to US firm Bemis in a deal estimated to be more than €70 million.

Andrew McLean, chief executive of SteriPack, said: “We’re very proud of our strong growth record and are keen to build on it to take SteriPack even further as we become even more valued partners to our customers through expansion of our capabilities and geographic footprint. Inflexion’s presence in our core markets of Europe, Asia and the US as well as its extensive M&A experience make it the ideal partner to support our future international growth.”

Flor Kassai, partner and head of Inflexion’s Buyout Fund, added: “SteriPack is clearly an extremely successful niche market player whose ongoing focus on high-quality innovation has earned it an impressive and loyal client roster. We are incredibly excited to bring our experience to bear to help management accelerate its growth further across the globe.”

Jamieson Corporate Finance advised SteriPack on the terms of their management incentive arrangements as part of the sale of the business to Inflexion. Houlihan Lokey served as both buyside M&A and financing advisor.

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