Avista Capital Partners-sponsored MedServe to be acquired by Stericycle for $185 million
MedServe, Inc., a private company that is majority owned by Avista Capital Partners, Chrysalis Ventures and Murphree Venture Partners, has entered into an agreement to be acquired by Stericycle, Inc. for $185 million in cash, according to Avista.
MedServe, headquartered in Houston, Texas, is engaged in the collection, transportation, treatment and disposal of medical waste, hazardous waste, universal waste and other regulated wastes.
“We would like to thank Avista, Chrysalis, Murphree and our other shareholders for their commitment to MedServe over the last three years,” Roger Ramsey, Chairman and Chief Executive Officer of MedServe, said. “We are grateful for their support of the company’s strategic vision and assistance in achieving this successful event.”
“MedServe has made significant progress during the period of Avista, Chrysalis and Murphree’s ownership,” Steve Webster, co-managing partner of Avista Capital Partners said. “The company has grown into a great business with an exceptional base of employees. The entire investor group is delighted to have sponsored MedServe and that we were able to partner with the company’s outstanding management team.”
Avista Capital Partners has offices in New York City and Houston. It is a leading private equity firm that makes investments primarily in growth-oriented energy, healthcare and media companies.
The MedServe transaction is subject to customary closing conditions and regulatory reviews, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
