STERIMED, a French company and world leader in medical packaging, announces the finalisation of a management-led capital reshuffling and the roll-out of a new strategic plan.
The Sterimed Group announced that it has today entered into an agreement to strengthen and reshuffle its capital base around its management team, IK Partners ("IK"), Sagard and a group of investors, all brought together in a new entity called "Les Amis de Sterimed" (Friends of Sterimed). This transaction represents a major milestone in the ambitious new strategic plan supported by all partners, which aims to achieve €600 million in revenue by 2030.
Once this transaction is completed, the management team, supported by Les Amis and represented by Thibaut Hyvernat, will hold approximately 42% of the capital and will then be in control of the group's governance, with the support of IK and Sagard.
IK joining the investor round, the renewed support of Sagard which is substantially increasing its investment after having already supported the group for five years, and the backing of a broader “Les Amis de Sterimed” group alongside the management team will increase the group's financial resources and ensure its continued development.
The families and entrepreneurs historically associated with the group's development in Mexico, Ireland and the United Kingdom have also all expressed their desire to retain a significant stake in the company by joining “Les Amis de Sterimed”.
We are also delighted to welcome new partner investors to “Les Amis”:
- Société Générale Capital Partenaires,
- Geneo Capital Entrepreneur,
- Capza,
- Investir pour l'Enfance (managed by Raise)
We would like to warmly thank them all for the confidence and trust they have shown or renewed in us.
Backed by the support of IK, Sagard and “Les Amis”, the Sterimed Group, now more than ever an Association of Entrepreneurs, will be able to pursue its development strategy, both in its traditional markets of sterile medical device packaging and in new markets such as contract packing and other related services, infection prevention and pharmaceutical packaging.
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Thibaut Hyvernat, Chairman and Chief Executive Officer, said:
'I am particularly pleased and proud of the progress made by the Sterimed Group over the past eight years and of the unique entrepreneurial and people-focused model we have created. The trust and support of our investors have enabled us to embark on this adventure since day one, taking it on as our own collective endeavour with all our teams, and gradually bringing together incredible talent and energy in pursuit of a shared vision.
The move towards independence that we are announcing today means a great deal to us, and the trust placed in us comes with a great responsibility.
Our ambitions are now even greater, and thanks to the support of IK, Sagard and Les Amis, to whom I extend my warmest thanks on behalf of the entire management team and all the employees of the group, I am confident that we can go even further and even faster, in the interests of greater patient safety.
We will strive to demonstrate this every day by remaining true to the strong values that drive us.”
Vincent Elriz, Partner at IK Partners and Advisor to the IK X Fund, added: “We are delighted to partner with Thibaut, his team, Sagard and all shareholders as Sterimed embarks on its next phase of development. The Group has delivered strong growth in recent years through the expansion of its product portfolio for both MDMs and hospitals, as well as a targeted M&A strategy. With the IK Platform, we are confident in our ability to further support the Group’s growth trajectory, both organically and through strategic add-on acquisitions.”
Saïk Paugam, Partner at Sagard, commented: “We are extremely proud of Sterimed journey since our investment in 2019. Thanks to the combination of eight carefully integrated acquisitions and ambitious organic growth initiatives through sustained investments, Sterimed has consolidated its positions as world leading medical sterilisation packaging player. This outstanding performance has been driven by both the expertise of an outstanding management and the continued internationalisation of the business. We look forward to continuing to work with Thibaut and his team on this next stage of the Group’s story with the added experience of IK.”
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About STERIMED Group
Over the past five years, Sterimed has achieved sustained growth, both organically and through external growth strategies, increasing its revenue from €135 million to over €300 million. This has been made possible by more than 1,500 highly committed employees, more than half of whom are shareholders in the group.
Sterimed is now one of the world leaders in medical packaging and is aiming for €600 million in revenue by 2030, based on its vision: “Together, pioneer a sustainable healthcare packaging world for the highest patient safety.”
Its ambition remains unchanged: to serve all of its customers (medical device manufacturers, hospitals, pharmaceutical and life sciences industry, and specialised packaging companies) with the highest quality and ever-greater patient safety.
About IK PARTNERS
IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics, UK and Ireland. Since 1989, IK has raised more than €19 billion of capital and invested in over 200 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com
About SAGARD
Sagard is a French investment fund that provides equity capital to support the development of medium-sized companies led by ambitious teams. Sagard was founded in 2003 with the support of the Desmarais family. Its investors include influential industrial families and leading institutional investors. Since its formation, Sagard and its team of 14 professionals based in Paris and Milan have invested in 50 industrial and service companies in France. For more information, go to www.sagard.eu
About SOCIÉTÉ GÉNÉRALE CAPITAL PARTENAIRES
Société Générale Capital Partenaires (SGCP) supports shareholder-managers of SMEs and mid-sized companies with a development-focused, relationship-driven approach. SGCP takes minority stakes in companies, investing amounts ranging from €1 million to €35 million in a variety of situations: external or organic growth, ownership transfers, shareholder restructuring, or financial structure optimization.
Each year, SGCP’s teams—based in Paris, Lille, Strasbourg, Lyon, Marseille, Bordeaux, and Rennes—invest between €150 million and €200 million across around 20 transactions, reaffirming their long-term commitment to supporting business financing and the broader economy.
More information at: https://capitalpartenaires.societegenerale.com
About GENEO
GENEO’s mission is to provide the real economy with positive finance that combines performance and purpose. Designed to unlock the value creation, job creation, and impact potential of SMEs and mid-sized companies, GENEO Capital Entrepreneur manages nearly €740 million in assets.
It notably manages the “evergreen” investment company GENEO Capital, whose capital is majority-owned by 230 families and entrepreneurs — together forming the GENEO Community.
For more information, visit: www.geneocapitalentrepreneur.com
About "INVEST FOR CHILDHOOD" (Investir pour l’Enfance), managed by RAISE
"Invest for Childhood" is a shared investment fund, conceived with the support of leading investors, that applies private equity mechanisms to serve philanthropy and the common good. With €45M under management, its mission is to significantly support and contribute to the financing of strategic projects for two associations addressing fundamental childhood issues: health, with Institut Imagine, and education, with Espérance Banlieues.
CONTACTS
For further information or media enquiries or if you have any questions regarding this press release, please contact:
Sterimed
Dorothée Vuibert - Group Communications Director
dorothee.vuibert@sterimed.fr
IK Partners
Vidya Verlkumar - Director of Communications and Marketing
vidya.verlkumar@ikpartners.com
Sagard
Marina Da Cruz
mdc@sagard.eu