Summer Street Capital Partners LLC, a Buffalo, New York-based private equity fund, announced April 7 that it has completed the sale of Baltimore-based Curtis Bay Medical Waste Services to Aurora Capital Partners of Los Angeles following a competitive auction managed by St. Louis-based Stifel. Terms of the transaction were not disclosed.
Curtis Bay is one of the only privately held, vertically integrated medical waste solutions providers in the country. Founded in 1991 to provide a regional solution to medical waste management requirements for Maryland's hospitals, Curtis Bay operates the country's largest medical waste incinerator.
Over the course of Summer Street Capital's ownership period, Curtis Bay completed numerous strategic acquisitions, expanded their service area throughout the eastern United States, and evolved to offer a range of waste management solutions demanded by healthcare providers operating in a highly regulated and complex environment.
According to Summer Street, the organization’s vision to build a vertically integrated medical waste platform required new leadership and systems, capital improvements, acquisitions of collection and transfer assets, and expansion of the overall service offering. With the addition of several autoclaves and a collection network built around an expansive fleet and strategically located transfer stations, the company now provides cradle-to-grave medical waste management solutions to thousands of customers extending along the East Coast.
“Our partnership with Summer Street Capital has been incredibly rewarding thanks to their support of our commitment to invest in developing and growing sustainable waste management solutions that generate the lowest possible carbon footprint,” Curtis Bay CEO Mark Schifani says. “Through investments in both our facilities and our people, we were able to build a tremendous company focused on serving our healthcare providers and our community.”
“Curtis Bay's success is the result of a dedicated and knowledgeable team's commitment to customers, employees, community and environment,” Brian D'Amico, managing partner at Summer Street Capital Partners, says. “It was important to management and Summer Street to find a new partner who would continue to support Curtis Bay's investments in technology and people, especially given the significant pipeline of opportunities in front of them. Aurora Capital's experience, expertise and people-driven partnership model make them a great fit for the Curtis Bay team.”