Chatsworth, California; Baar-Zug, Switzerland; New York, New York, September 6, 2012 – Strategic Partners’ management team, Partners Group, the global private markets investment manager, and Avista Capital Partners (“Avista”), a leading private equity firm, today announced they have closed on the acquisition of Strategic Partners, Inc. (“Strategic Partners”). Strategic Partners is a leader in the manufacturing and marketing of medical uniforms, medical footwear, and school uniforms, with products sold throughout the United States. The terms of the transaction were not disclosed.
Michael Singer, Chief Executive Officer and founder of Strategic Partners, said, “Since our founding over two decades ago, we have focused on developing deep and lasting partnerships with our customers, employees, vendors, and licensing partners. We view the opportunity to further invest in our company as a chance to reaffirm our commitment to each of those partners as we continue to strive for the highest levels of service and satisfaction. We are also pleased with the partnership forged with our new investors and with the significant resources they bring to Strategic Partners.”
David Layton, a senior investment manager with Partners Group, commented, “We are delighted to partner with Mike Singer, Bob Pierpoint, and the rest of the Strategic Partners organization. They have built a world-class enterprise that we believe has an excellent opportunity for continued growth.” Alfred Gantner, Executive Chairman and Co-founder of Partners Group, said, “Strategic Partners is a compelling mid-market investment opportunity for our clients, and we are committed to leveraging our global industry network to add value to the company’s ongoing business initiatives.”
David Burgstahler, Partner and President of Avista, said, “Strategic Partners has leading brands, state-of-the-art distribution, and a first-class reputation among retailers and consumers.” David Durkin, a Partner with Avista, added, “It also operates in a growth industry. The population of nurses in North America, for instance, is growing much more rapidly than the general population. With the deep industry experience we and Partners Group bring and the outstanding management team already in place, we are very excited about the company’s ability to capitalize on long-term industry trends.”
About Strategic Partners, Inc.
Strategic Partners, Inc. is a recognized national leader in the design and manufacturing of medical apparel and footwear and school uniforms. It distributes medical apparel under the Cherokee, Dickies, Baby Phat, Sketchers and Disney brands among others. The company supports nurses and other healthcare professionals through a national awards program, scholarships for students enrolled in nursing schools, and Scrubs Magazine (scrubsmag.com), the first lifestyle magazine and website for nurses. The corporation’s home office is in Chatsworth, California, with a state-of-the-art distribution center in Dallas, Texas. For more information, please visit: www.strategicpartners.net
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 25 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 600 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of over CHF 4.5 billion, majority owned by its partners and employees. For more information, please visit: www.partnersgroup.com
About Avista Capital Partners
Avista Capital Partners is a leading private equity firm with over USD 4 billion under management with offices in New York, Houston, and London. Founded in 2005, Avista’s strategy is to make controlling or influential minority investments in growth-oriented energy, healthcare, communications & media, industrial and consumer businesses. Through its team of seasoned investment professionals and industry experts, Avista seeks to partner with exceptional management teams to invest in and add value to well-positioned businesses. For more information, please visit: www.avistacap.com.