Sterimed, a medical packaging firm, has completed the acquisition of Riverside Medical Packaging, a supplier of sterilization packaging systems and services.
Specialist in complex medical packaging solutions, Riverside has become over the past 40 years a leading UK provider of tailored contract packing services for the medical device industry, housing 12 cleanrooms (3 Class 8 & 9 class 7) with significant thermoforming production capabilities.
Under the tradename Aseptic Medical Devices (AMD), the company has also successfully developed multi-packed syringes and medical devices in a format designed exclusively for the production of aseptically manufactured parenterals for hospital pharmacists and compounders.
The management team of Riverside, led by the Managing Director Matthew Roe, will stay in place and join the entrepreneurial journey of Sterimed. David Shaw, founder of the company, will stay as a director of Riverside and will join the Sterimed core entrepreneurs’ team by becoming a shareholder of the Sterimed group alongside the existing management team, families, and financial partners of Sterimed.
Thibaut Hyvernat, president and CEO, said: “I am delighted to welcome a wonderful new team, and a wonderful business, within Sterimed. All the preparatory works and discussions have taken place in such a constructive spirit that this alliance became obvious for everybody very quickly, making all of us sure of its relevancy.
“This is another big step forward in Sterimed development strategy, bringing a lot of new cross-fertilization opportunities for Riverside Medical and a number of current Sterimed sites and businesses.”
David Shaw, founder of Riverside, said: ”We are delighted and thrilled to have completed this transaction and to now be part of the Sterimed Group. Over its 45 year history Riverside has grown into one of the UK’s leading medical packaging suppliers. Our success has been the result of a dedicated and committed workforce, long term vision and innovation.
“With the synergies, opportunities and security that will now arise from being part of the Sterimed family of companies, I am confident that the future prosperity of Riverside is assured, and our customers will benefit hugely from the wider variety of services Riverside will now be able to offer.”
Matthew Roe, who will remain as Managing Director of Riverside, said: “Myself, my management team, and our proficient and experienced workforce are thrilled to be joining the Stermed Group.
“The synergies for cooperation and expansion within the group will accelerate our growth and cement our position as one of the leading providers to the medical device industry. The partnership with these prestigious medical packaging companies will give us a global presence and create exciting new opportunities.”
Sally Saunders of Translink said: “It has been a privilege to work with the shareholders of Riverside Medical packaging. The business has achieved significant growth through continued innovation and building trusted customer relationships, becoming a market-leading player and we are excited to see the huge growth potential in joining forces with the Sterimed group.”
Advisers on the transaction included Sally Saunders and Amanda Betts from Provantage Corporate Finance. Legal advice came from Nigel Blackwell and Harpinder Nahl from Browne Jacobson.
