Healthcare Manufacturing Veteran Andrew McLean Named New CEO
CHICAGO–(BUSINESS WIRE)–Sheridan Capital Partners (“Sheridan”) today announced the completion of its investment in Currier Plastics (“Currier” or “the Company”), a manufacturer of custom, precision plastic components used primarily in healthcare and life sciences. 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.
Founded in 1982 and based in Auburn, N.Y., Currier 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. Utilizing advanced custom blow and injection molding, Currier manufacturers 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 Founder and President, John Currier. “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.
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. Prior leadership positions include CEO & 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. I look forward to continuing and growing this legacy,” said McLean.
“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.
About Sheridan Capital Partners
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, and strives to bring strategic resources to accelerate growth, build enduring value, and achieve strong results. For more information, please visit www.sheridancp.com/.
About Currier Plastics
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. Utilizing advanced custom blow and injection molding, Currier manufacturers 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. For more information, visit www.currierplastics.com.
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Trevor Blaisdell
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