Baar-Zug, 6 September 2012
Partners Group and Avista Capital Partners team with management to acquire Strategic Partners, a recognized leader in medical apparel in North America
Strategic Partners’ management team, Partners Group, the global private markets investment manager, and Avista Capital Partners, a leading private equity firm, today announced they have closed on the acquisition of Strategic Partners, Inc. Strategic Partners is a leader in the manufacturing and marketing of medical uniforms, medical footwear and school uniforms, with products sold throughout the United States. The terms of the transaction were not disclosed.
Michael Singer, Chief Executive Officer and founder of Strategic Partners, said, "Since our founding over two decades ago, we have focused on developing deep and lasting partnerships with our customers, employees, vendors and licensing partners. We view the opportunity to further invest in our company as a chance to reaffirm our commitment to each of those partners as we continue to strive for the highest levels of service and satisfaction. We are also pleased with the partnership forged with our new investors and with the significant resources they bring to Strategic Partners."
David Layton, a senior investment manager with Partners Group, commented, "We are delighted to partner with Mike Singer, Bob Pierpoint and the rest of the Strategic Partners organization. They have built a world-class enterprise that we believe has an excellent opportunity for continued growth." Alfred Gantner, Executive Chairman and Co-founder of Partners Group, said, "Strategic Partners is a compelling mid-market investment opportunity for our clients, and we are committed to leveraging our global industry network to add value to the company’s ongoing business initiatives."
David Burgstahler, Partner and President of Avista, said, "Strategic Partners has leading brands, state-of-the-art distribution, and a first-class reputation among retailers and consumers." David Durkin, a Partner with Avista, added, "It also operates in a growth industry. The population of nurses in North America, for instance, is growing much more rapidly than the general population. With the deep industry experience we and Partners Group bring and the outstanding management team already in place, we are very excited about the company’s ability to capitalize on long-term industry trends."