Aurora Capital Partners, a middle-market private equity firm completed its acquisition of Sharps Compliance Corp., a full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous waste.
Stifel served as exclusive financial advisor and Gibson, Dunn & Crutcher served as legal advisor to Aurora. Raymond James & Associates acted as financial advisor and Norton Rose Fulbright acted as legal advisor to Sharps. Antares arranged the debt financing for the transaction.
Headquartered in Houston, and founded in 1992, Sharps is a provider of medical waste solutions, including both mail-back and route-based collection services. The company’s strong management team has overseen consistent growth over multiple decades, driven by repeat business and a long-term focus on exceptional customer service. Additionally, Sharps developed and manages a proprietary nationwide solution for proper handling of unused medication, which has significantly expanded its customer base and reach in the past several years.
“We are excited to add Sharps’ industry-leading solutions to our medical waste platform,” Andrew Wilson, partner at Aurora, said. “In addition to creating the industry’s leading mail-back solution and a growing route-based service, the company’s management team was early to identify the need for reliable, controlled disposal of unused medication, establishing Sharps as a pioneer in the sector. We look forward to partnering with the team to capitalize on our platform and selectively pursue add-on acquisitions.”
“Aurora has a proven history of partnering with industry leaders to accelerate growth across business lines, and we are honored to work with them moving forward,” Pat Mulloy, CEO of Sharps, said. “I am confident that their understanding of the medical waste services market, combined with their alignment with our customer-first approach, will allow us to build on our recent growth, expand our customer base and further enhance our innovative solutions offerings.”
“Following our partnerships with Restaurant Technologies, VLS Environmental Solutions and PSC Group, Sharps represents the addition of another high-quality Business Services platform to the Aurora program,” Matthew Laycock, partner at Aurora, said.
As previously announced on Aug. 22, a total of 16,830,657 shares were validly tendered and not withdrawn from Aurora’s tender offer, representing approximately 82% of the number of shares that were issued and outstanding as of the expiration date on a fully diluted basis. As a result of the completion of the merger, Sharps has ceased trading on the NASDAQ, effective Aug. 23, and has become a privately-held company.
The transaction marks the fifth Aurora investment specifically within the medical waste management space and follows a number of recent Aurora investments within the broader business services sector.