An affiliate of Peak Rock Capital announced on 3 Jun that it has completed the previously announced acquisition of HuFriedyGroup, the dental segment, of STERIS.
Founded in 1908, HuFriedyGroup is a global manufacturer of high-quality instruments, infection prevention products, instrument management systems, and conscious sedation products for the dental industry.
HuFriedyGroup has industry leading brands, including Hu-Friedy, Crosstex, Omnia, and Accutron. Headquartered in Chicago, Illinois, the company serves customers in about 100 countries, and is supported by a base of 1,500 employees across over 20 global manufacturing facilities and locations.
According to the press release shared by Peak Rock, HuFriedyGroup has built a strong reputation in the industry for its outstanding quality, broad product offerings, efficient workflow solutions, and ergonomic instrument designs.
“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 are also excited to help the team pursue complimentary acquisitions to extend the product and brand portfolio,” said Spencer Moore, managing director of Peak Rock Capital.
According to news shared by STERIS plc in April 2024, the divestment of HuFriedyGroup in the equity sale for US$787.5m will allow STERIS to focus on its customers within its core markets in healthcare, pharma and MedTech who can most benefit from its full portfolio of products and services.
Peak Rock Capital is a 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 carveouts and partnering with families and founders seeking first-time institutional capital.
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 medical technology and global manufacturing businesses. We believe that HuFriedyGroup represents an excellent platform for growth through near-term organic initiatives and strategic acquisitions,” said Anthony DiSimone, CEO of Peak Rock.
Related: Osstem Implant reportedly acquires Implacil De Bortoli, Brazil’s third-largest dental implant firm
