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Aurora Capital Partners Acquires Curtis Bay Medical Waste Services; Antares Arranges Debt Financing for the Transaction
April 5, 2021
Source: PR Newswire
Aurora Capital Partners ("Aurora"), a leading middle-market private equity firm, today announced the acquisition of Curtis Bay Medical Waste Services ("Curtis Bay"), an industry leader in medical waste collection, treatment and disposal services, from Summer Street Capital Partners. Terms of the transaction were not disclosed.
Headquartered in Baltimore, Maryland, Curtis Bay is one of the only privately held vertically integrated medical waste solutions providers in the country, allowing it to provide comprehensive cradle-to-grave solutions to its thousands of customers. In addition to operating several autoclaves and a proprietary hauling network comprised of a company truck fleet and transfer stations, the Company operates the largest medical waste incinerator in the U.S., and the only such facility in the Northeast that can safely convert infectious/biomedical substances and non-hazardous pharmaceuticals into innocuous waste.
"We are thrilled to partner with the entire Curtis Bay team, and are humbled and grateful that they selected us to support them as the Company enters its next stage of expansion," said Andrew Wilson, Partner at Aurora. "With a deep pipeline of growth opportunities combined with a leading position in the markets it serves today, Curtis Bay is an ideal fit for the Aurora program. We look forward to working closely with Mark Schifani, CEO of Curtis Bay, and to leveraging our history of partnerships with high-quality route-based service providers."
"Mark has assembled an impressive team and built Curtis Bay into a real leader in the medical waste management industry," said Matt Laycock, Partner at Aurora. "The Company has a strong operational foundation that uniquely positions it to capitalize on a range of attractive growth opportunities as well as a balance sheet designed to support Aurora's Buy and Build strategy. We're excited to be their partner as Curtis Bay leverages its strong market position to pursue organic growth as well as add-on acquisitions."
"As an industry leader, Curtis Bay is focused on safety, compliance, and best-in-class services to the healthcare industry, from local pharmacies to national hospitals," said Mark Schifani, CEO of Curtis Bay. "Aurora has an incredible reputation of serving as a true partner to its portfolio companies, and we are thrilled to be able to leverage their insights and expertise in route-based and environmental services to expand our footprint and grow Curtis Bay into the premier medical waste management company in the US."
This transaction marks the third investment from Aurora Equity Partners VI, which was activated in September. It follows a number of recent Aurora investments within the broader business services sector, including Premier Roofing, Petroleum Service Corporation, VLS Recovery and Pace Analytical Services.
Baird served as financial advisor and Gibson Dunn served as legal advisor to Aurora, and Stifel Nicolas served as financial advisor to Curtis Bay and Summer Street Capital Partners. Antares arranged the debt financing for the transaction.
About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora's investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.
About Curtis Bay
Headquartered in Baltimore, Maryland, Curtis Bay Medical Waste Services provides comprehensive medical waste solutions including collection, transfer, transportation, recycling, waste reduction, sharps management, disposal, and consulting services to hospitals, medical offices, pharmacies and other healthcare providers. The company is dedicated to delivering customized, professional responses to all medical waste disposal challenges. For more information about Curtis Bay, visit: www.curtisbaymws.com.
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