PEAK ROCK CAPITAL AFFILIATE COMPLETES PREVIOUSLY ANNOUNCED ACQUISITION OF HUFRIEDYGROUP

Rhea-AI Summary

An affiliate of Peak Rock Capital has completed the acquisition of HuFriedyGroup, the dental segment of STERIS plc (NYSE: STE). HuFriedyGroup, founded in 1908, is a global leader in dental instruments, infection prevention products, and instrument management systems. The company serves customers in approximately 100 countries and employs around 1,500 people across more than 20 global facilities. Peak Rock Capital sees this acquisition as a significant investment opportunity, aiming to drive new product innovation and organic growth. The firm also plans to support complementary acquisitions to expand the product and brand portfolio.

Positive

• Completion of the acquisition of HuFriedyGroup by Peak Rock Capital.
• HuFriedyGroup's strong market presence, serving customers in around 100 countries.
• Reputation for high-quality products and efficient workflow solutions.
• Strategic plans for further product innovation and organic growth.
• Peak Rock's experience in complex carve-out transactions.
• Potential for growth through near-term organic initiatives and strategic acquisitions.

Negative

• No specific financial terms of the acquisition were disclosed.
• Potential uncertainties associated with integrating HuFriedyGroup into Peak Rock's portfolio.
• Execution risk related to achieving planned complementary acquisitions.

AUSTIN, Texas, June 3, 2024 /PRNewswire/ -- An affiliate of Peak Rock Capital ("Peak Rock"), a leading middle-market private equity firm, announced today that it has completed the previously announced acquisition of 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."

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 medical technology and global manufacturing businesses. We believe that HuFriedyGroup represents an excellent platform for growth through near-term organic initiatives and strategic acquisitions."

ABOUT HUFRIEDYGROUP

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-completes-previously-announced-acquisition-of-hufriedygroup-302161469.html

SOURCE Peak Rock Capital LLC

FAQ

What company acquired HuFriedyGroup?

An affiliate of Peak Rock Capital acquired HuFriedyGroup.

When was the acquisition of HuFriedyGroup completed?

The acquisition was completed on June 3, 2024.

Which segment of STERIS was acquired by Peak Rock Capital?

Peak Rock Capital acquired the dental segment of STERIS, known as HuFriedyGroup.

What products does HuFriedyGroup specialize in?

HuFriedyGroup specializes in dental instruments, infection prevention products, and instrument management systems.

How many employees does HuFriedyGroup have?

HuFriedyGroup has approximately 1,500 employees.

In how many countries does HuFriedyGroup serve customers?

HuFriedyGroup serves customers in around 100 countries.

What are some brands under HuFriedyGroup?

Some brands under HuFriedyGroup include Hu-Friedy, Crosstex, Omnia, and Accutron.

What is the stock symbol for STERIS?

The stock symbol for STERIS is STE.

What is the future plan for HuFriedyGroup under Peak Rock Capital?

Peak Rock Capital plans to drive new product innovation, organic growth, and pursue complementary acquisitions for HuFriedyGroup.