Steris to sell Dental segment to Peak Rock Capital for $787.5M, with potential $12.5M earnout.
Steris (STE) plans to sell its Dental segment to Peak Rock Capital for $787.5M in an equity sale, with an additional potential earnout of up to $12.5M based on revenue targets in fiscal 2025. The segment reported $407M revenue and $86M operating income in the past 12 months. Steris aims to focus on core markets after the divestiture, with the deal expected to close in the first quarter of fiscal 2025.
April 11, 2024
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