Steris has sold its UK Linen Management Services business to STAR Mayan Limited for about 50 million pounds, or about $66.5 million.
The linen business had been part of Synergy Health, the British company that Steris, a medical equipment and sterilization services company in Mentor, acquired last year.
For fiscal year 2017, the UK Linen Management Services business was expected to generate about 40 million pounds, or $53.3 million, in revenue, Steris said in the filing.
Steris said in the filing that it will “continue to review its businesses for opportunities to optimize its portfolio of products and services.”
STAR Mayan Limited is backed by the funds managed by STAR Capital, a European private equity fund manager that was founded in 2000, with the goal of acquiring and developing asset-based businesses either in partnership or independently.
"Steris sells UK Linen Management Services business for about $66 million" originally appeared in Crain's Cleveland Business.