Sterimed welcomes IK Partners and new partners alongside its longstanding investors

IK Partners (“IK”) is pleased to announce that it has invested in Sterimed Group (“Sterimed” or “the Group”), a leading provider of sterile medical packaging solutions, as part of a management-led consortium. The consortium includes long-term investor Sagard, which has reinforced its position by increasing its investment, as well as a club of new investors Société Générale CP, Geneo CE, Capza and Investir pour l’Enfance, under the name of “Friends of Sterimed”. The families and entrepreneurs who have historically invested in Sterimed have also all chosen to remain shareholders in the Group by joining the “Friends of Sterimed”. Financial terms of the transaction are not disclosed.

Founded in 2016 by CEO Thibaut Hyvernat, who led a carve-out from Arjowiggins, Sterimed has established itself as a leading integrated sterile flexible medical packaging player globally. Headquartered in Boulogne-Billancourt, Ile-de-France, the Group produces medical grade paper, film substrates and assembled packaging, such as pouches, bags and wraps, for medical device manufacturers (“MDMs”), hospitals and intermediaries known as convertors. Sterimed counts leading MDMs, as well as key hospital organisations, among its large and diversified client base.

In recent years and with the backing of Sagard, Sterimed has embarked on a strategy of internationalisation in markets beyond Europe, most notably China, Mexico and the US, via eight strategic acquisitions. At present, the Group has more than 1,500 employees across 14 production sites and 24 warehousing and sales offices.

With the support of the entire consortium over the next few years, Sterimed aims to drive continued organic growth by expanding globally into less penetrated markets, cross-selling new products to existing clients and leveraging synergies from recent acquisitions. The Company also plans to support innovation in core and new markets, pursue further acquisitions and enter strategic adjacent sectors such as Pharma and Life Sciences.

Thibaut Hyvernat, Chairman and CEO of Sterimed, said: “I am proud of the journey Sterimed has taken over the past eight years as well as the unique, entrepreneurial spirit we’ve managed to cultivate alongside rapid growth. We’d like to thank Sagard and our existing partners for their guidance while accompanying us on the journey and are pleased that they have chosen to renew their investment in the Group on this next phase of growth. We are very excited to welcome IK as a new partner to the Sterimed business as we aim to continue our growth in international markets. The IK team has a great deal of experience in the Healthcare sector, as well as a proven track record of supporting European businesses seeking global expansion.”

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’s 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 position as a world-leading medical sterilisation packaging player. This outstanding performance has been driven by both the expertise of an outstanding management team 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.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com