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Stage Capital sells STI Group to Mérieux Développement/GIMV

Stage Capital (Stage), a private equity and real estate investor backed by funds managed by Goldman Sachs Asset Management and Glendower Capital, has sold STI Group to a consortium of private equity firms Mérieux Développement and GIMV.

STI Group is a fast-growing developer and manufacturer of plastic medical devices for the healthcare industry. Stage has sold its 92.5 per cent stake in the business, having transformed a diversified moulding company acquired in 2013 into a pure-play medical devices business which stage says is very well positioned to become a key player in the connected devices market.
 
This transformation, together with a 12 per cent annual growth in sales under Stage’s ownership, has resulted in Stage achieving an exit return of over 6 times the original equity invested in the business five years ago. 
 
Graham Thomas, CEO of Stage, says: “We are very pleased with this latest exit, which again demonstrates that we are well placed to deliver leading market returns for our investors. We are focused on developing our business in those areas and geographies where we have proven expertise, track record and are highly differentiated from the pack.”
 
Laurent Allégot, Partner of Stage and Chairman of STI Group’s Supervisory Board, says: “This transaction illustrates our know-how in leading the transformation of mid-sized companies and working closely with management teams to realise strong growth and value creation potential. We would like to congratulate the managers of STI Group for the tremendous job they have achieved.”

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