BPGC, Spinnaker International and R Investments acquire controlling interest in Stericare Solutions
05 Jan 2023
Acquisition
NEW YORK, Jan. 5, 2023 /PRNewswire/ -- BPGC Management LP ("BPGC"), Spinnaker International LLC ("Spinnaker") and R Investments (together the "Acquiror") has acquired a majority stake in Nurse Assist LLC, the maker of the Stericare Solutions ("Stericare") brand of medical water products.
Stericare is an independent specialty manufacturer of medical grade saline and water products with a focus on, prefilled flush syringes, USP sterile water and saline, sterile saline wound flush and irrigation kits. The company's medical water system is recognized by many in the industry for its high quality and track record of consistency. The Acquiror will own 70 percent of Stericare.
Stephen Toy, co-founder of BPGC - "Stericare has a first-class water purification system that delivers consistent, high quality medical grade water. We believe this in-house water system can be further expanded to drive growth in existing and new product categories."
Kevin Seifert, co-founder of Spinnaker International – "The company's management team has successfully elevated Stericare into a best-in-class manufacturer with a strong market presence. Supporting this team with our capital and execution guidance, we are confident that a significant growth model will flourish to serve many of the market's unmet needs."
Wilbur Ross, founder of R Investments – "This is my first investment into medical products and services. Stericare can expand rapidly from the strong demand growth for its sterilized products, by increasing its market share and by acquisitions. I look forward to serving on the board to assist management in achieving these goals."
Stephen Toy further added "Kevin and I have known each other for over 20 years. We are delighted to be partnering on Stericare and are excited to collaborate on driving further growth and expansion opportunities for the business."
About BPGC
BPGC Management LP is an independent private equity firm dedicated to opportunistic buyouts and special situations transactions in the global industrials, materials and chemicals sectors. BPGC's Co-Founders, Stephen Toy and Nadim Qureshi, previously served in various leadership roles at Invesco Private Capital and WL Ross & Co. and share a deep heritage of successfully operating and investing across multiple geographies. BPGC is headquartered in New York City. Learn more at www.bpgc.com.
About Spinnaker
Spinnaker International LLC (Spinnaker) is an independent investment company that focuses on unique strategic and tactical growth opportunities. They leverage strong differentiated commercial strategies, robust patent portfolios, operational excellence and diversified global distribution channels. Spinnaker's Co-founders, Alvin Yip and Kevin Seifert have over 50 years of industry experience combined. They have a successful track record of working with or at many top global companies: Intel, BMT, 3M, Hewlett Packard, Virgin Mobile, Becton Dickenson, Covidien, Medtronic, Roche, Bayer Healthcare, and Abbott Laboratories. Spinnaker is headquartered in Massachusetts and has offices in Hong Kong and the UK.
About R Investments
R Investments is a merchant banking firm wholly owned by Wilbur Ross, who had been the founder and Chairman of WL Ross &Co. prior to serving for four years as the United States Secretary of Commerce.
Media Contact:
Stephen Toy
[email protected]
SOURCE BPGC Management LP
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