Strategic Partners Inc., a designer and supplier of workplace uniforms, footwear and accessories, has announced a partnership with New Mountain Capital, an investment firm that manages more than $15 billion of private equity, public equity and credit assets. Financial terms of the partnership were not disclosed; however, New Mountain is investing alongside Strategic Partners senior management, who founded the business over 20 years ago.
Strategic Partners is the leading provider of medical scrubs, and a major licensing partner for uniforms. A few months ago, it introduced a new line of Certainty Plus scrubs, which block fluids and odors, without compromising comfort. The company uses a flexible and scalable sourcing model, which it says enables reliable service for its customers. “The [Strategic Partners] team has developed a proven growth strategy, and we are excited to put additional resources behind this strategy to grow and expand the business,” says Mat Lori, managing director at New Mountain Capital. He adds that his firm will be working closely with Strategic Partners’ management in the coming years to support new strategic initiatives.
Mike Singer, CEO of Strategic Partners, believes New Mountain is the key to help his company “achieve the next level of growth.” He notes: “We look forward to our partnership and the benefits it will yield for our retail partners, end consumers and employees.”
Financial services company UBS and law firm Kirkland & Ellis acted as advisers to New Mountain Capital in the investment partnership.