Vance Street Capital Partners with Prince Sterilization Services
Vance Street Capital, a notable private equity firm based in Los Angeles, has recently announced an exciting partnership with Prince Sterilization Services. This collaboration aims to bolster the growth of Prince, which specializes in eco-friendly sterilization solutions for various sectors, including pharmaceuticals and medical devices.
Expanding Eco-Friendly Solutions
With a strong emphasis on sustainability, Prince Sterilization Services provides innovative sterilization options primarily for the pharmaceutical, biotechnology, and medical device industries. Their offerings include environmentally responsible sterilization methods as well as ready-to-use drug containment solutions, such as vials and bottles.
Comprehensive Sterilization Services
Headquartered in Pine Brook, New Jersey, Prince offers a broad range of sterilization options, including steam, dry heat, and vaporized hydrogen peroxide (VHP), as well as providing sterile packaging solutions. Their current focus is on steam and dry heat sterilization, ensuring high efficacy in their services.
Expansion and Innovation
In response to increasing demand, the company has recently expanded its sterilization capabilities to include VHP. This initiative coincided with the FDA recognizing VHP as an established sterilization method for medical devices. The new facility in Pine Brook now enhances their capacity across all sterilization formats, allowing Prince to meet the evolving needs of its customers while maintaining environmentally friendly practices.
Leading Management Team
Founded by Dr. Daniel Prince, who serves as CEO, and Dr. Derek Prince, the President, the management team remains dedicated to the company's mission. Both founders retain significant ownership and are committed to driving daily operations. Derek expressed enthusiasm about the partnership with Vance Street, stating that it will allow them to expand their services while continuing to provide innovative sterilization solutions to their loyal clients.
Focus on Growth and Collaboration
Vance Street Capital aims to exert a positive influence on Prince's growth trajectory. Steve Sandbo, a partner at Vance Street, noted that the company’s commitment to eco-friendly practices aligns perfectly with their investment philosophy. He conveyed excitement about the opportunity to support Prince’s initiatives to enhance their capabilities and serve a growing customer base effectively.
Strategic Involvement
Grady Miller, Principal at Vance Street, emphasized the synergy between their investment strategy and Prince’s business model. He mentioned that partnering with founder-owned enterprises in crucial sectors, such as pharmaceuticals and medical devices, is a key component of their approach. Vance Street is eager to assist in expanding Prince’s product offerings and services.
Partnership Logistics and Advisors
Integral to this transaction, Paul Hastings LLP acted as legal counsel for Vance Street, while Capstone Partners advised Prince on financial matters. Lowenstein Sandler LLP provided legal support to Prince in this partnership. Debt financing was arranged through Apogem Capital and Bank of Montreal, although the specific terms of the transaction are confidential.
About Vance Street Capital
Vance Street Capital is a middle-market private equity firm focused on investing in businesses that deliver engineered solutions across various sectors, including industrial technology, medical, life sciences, aerospace, and defense. Their collaborative approach with management teams aims to drive revenue growth and operational improvements. For more insights about their investment philosophy, potential investors can explore their website.
Frequently Asked Questions
What services does Prince Sterilization Services offer?
Prince provides a full range of sterilization services, including steam, dry heat, and vaporized hydrogen peroxide sterilization, as well as sterile packaging solutions.
Who are the founders of Prince Sterilization Services?
Dr. Daniel Prince is the CEO, and Dr. Derek Prince serves as the President, both maintaining an active role in daily operations.
Why is vaporized hydrogen peroxide significant in this partnership?
The FDA recognizes vaporized hydrogen peroxide as a validated sterilization method, which enhances Prince's eco-friendly sterilization offerings.
What is Vance Street Capital's investment focus?
Vance Street focuses on middle-market companies across sectors like industrial technology, medical, and life sciences.
How does the partnership benefit Prince?
This collaboration allows Prince to expand its capabilities and develop new growth opportunities in the sterilization market.
