July 3rd, 2019
Sterile Processing Services of America continues expansion through the acquisition of the Assets of Novo Health Systems Salt Lake City, Utah facility
Los Angeles, July 3rd, 2019 – Sterile Processing Services of America (“SPSA”), a portfolio company of Pacific Avenue Capital Partners, LLC (“Pacific Avenue”), announces the acquisition of the assets of Novo Health Systems’ Salt Lake City, Utah facility, which is an outsourced provider of hospital sterilization services.
“We are excited to add the Salt Lake City, Utah location to our network. The acquisition continues to validate the Pacific Avenue playbook of investing in our teams and driving growth within our businesses to create value for our investors.” said Chris Sznewajs Managing Partner and founder of Pacific Avenue. “This is the second transaction we have completed with Novo and it further validates we are a solutions provider for corporate sellers looking to divest assets.” he added.
Under Pacific Avenue’s ownership, SPSA has grown through a strategic emphasis on providing outsourced instrument and linen sterilization services on a long-term or emergency basis. SPSA has built a world class team led by President Jenifer Greisen that is focused on meeting the highest safety standards while providing excellent service to the customer.
“We are excited to add the Salt Lake City location to our network of facilities. This location further strengths SPSA’s foothold in the West Coast and enhances SPSA’s existing off-site sterilization capabilities” said Jenifer Greisen President of SPSA. “We plan to bring our operational playbook to our new Utah customers to ensure the highest level of service and quality.”
About Pacific Avenue Capital Partners
Founded in 2017 by Chris Sznewajs, Pacific Avenue Capital Partners, LLC is a Los Angeles-based private equity firm focused on corporate divestitures and other special situations in the lower middle market.
Pacific Avenue’s senior team has closed over 50 transactions including 25 carve-outs across a multitude of industries, and our M&A and operations experience allows us to navigate complex transactions and unlock value through operational improvement and capital investment while accelerating growth.
Through our collaborative approach, we partner with strong management teams and industry operators to drive strategic change and capture transformational upside. For more information, please visit www.pacificavenuecapital.com.
About Sterile Processing Services of America
Sterile Processing Services of America is a leading provider of off-site sterilization services (instruments and linen) for clinics, surgery centers, and hospital centers. SPSA services both client-owned instruments and equipment and reusable surgical packs. The company has facilities in Long Beach, CA as well as Salt Lake City, Utah. For more information, please visit www.spsausa.com.
Pacific Avenue Capital Partners, LLC