Concurrently with the closing of the investment, healthcare manufacturing veteran Andrew McLean was named the new CEO of Currier Plastics.
CHICAGO—Sheridan Capital Partners recently completed its investment in Currier Plastics, a manufacturer of custom, precision plastic components used primarily in healthcare and life sciences, the company said in a release.
The investment reflects Sheridan’s continued evolution as a healthcare investor with expertise in multiple sectors across the healthcare landscape, from outsourced services and medical products to software and technology for providers, payors, and pharma. Concurrently with the closing of the investment, the company announced that Andrew McLean has been named the company’s new CEO of Currier Plastix.
Currier Plastics, founded in 1982, is based in Auburn, New York. The company has developed “an excellent reputation for its technical capabilities and service to blue-chip customers in healthcare and other highly demanding and regulated end-markets,” the release stated.
Using advanced custom blow molding and injection molding, Currier manufactures tight-tolerance custom components in ISO Class 7 and Class 8 cleanrooms. The company also offers value-added services, such as design engineering, material selection, and assembly.
“I am very proud of what our dedicated employees have created at Currier, and we have found a great partner in Sheridan to continue our steadfast commitment to excellence for our customers,” said Currier Plastics Founder and CEO, John Currier, in the release. “The healthcare expertise Sheridan brings will be invaluable as we look to execute on organic growth initiatives and strategic M&A. In addition, this partnership and the leadership of our incoming CEO, Andrew McLean, will enable us to continue to invest in the talent and operational resources to continue providing world-class products and services to our growing customer base across multiple end markets.”
“Currier is the result of our multi-year thesis in medical contract manufacturing, and we are very excited to be partnering with them at this inflection point in their growth,” said Sean Dempsey, co-founder and partner at Sheridan, in the release.
New CEO Andrew McLean brings to Currier more than 25 years of leadership experience in the medical device and pharmaceutical industries, where he has a track record of successfully driving growth and increasing profit margins. His prior leadership positions include CEO and president of medical device and pharmaceutical product design and contract manufacturer SteriPack Group, and CEO of Sirtex, a manufacturer of minimally invasive interventional oncology solutions.
Earlier in his career, McLean held a number of senior sales, marketing, and business development roles at global medical technology business BD (Becton, Dickinson and Company) and Pfizer. “Currier’s excellent reputation for quality, technical capabilities, and customer service have been established over decades,” McLean said in the release. “I look forward to continuing and growing this legacy.”
“Currier continues to win new business from highly demanding customers for a reason. We are excited to add even more resources to Currier so it can be the best possible partner to its customers,” added Sheridan Principal, Michael Bernard.
The transaction was led by Sean Dempsey, Michael Bernard, Brian McGregor, and Dimitri Kallioras at Sheridan Capital Partners. McDermott Will & Schulte LLP served as legal counsel and William Blair served as financial advisor to Sheridan Capital Partners. Stout Capital served as financial advisor and Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Currier. Financial terms of the transaction were not disclosed.
Founded in 1982 and based in Auburn, New York, Currier Plastics is a manufacturer of custom, precision plastic components used primarily in healthcare and life sciences. Currier employs advanced custom blow and injection molding to manufacture tight tolerance custom components in ISO Class 7 and Class 8 cleanrooms. The company also offers value-added services such as design engineering, material selection, and assembly.
Sheridan Capital Partners is a healthcare private equity firm that focuses on lower middle market buyouts and growth equity in the U.S. and Canada. Sheridan partners with companies in the verticals of providers and provider services, healthcare IT and outsourced services, and consumer health and medical products. The company stated it “strives to bring strategic resources to accelerate growth, build enduring value, and achieve strong results.”