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STAR Capital acquires Synergy Health Management Services Limited, the UK Linen Management Services Operations of the Synergy Health Limited group of companies

1 July 2016

STAR Capital (“STAR”), a leading European fund manager, announces today that it has acquired Synergy Health Managed Services Limited - the operator of the UK Linen Management Services (“LMS”) of the Synergy Health Limited group of companies for £50 million. This is the first acquisition made by STAR’s third fund (“STAR III”).

The LMS business of Synergy Health Managed Services Limited, a wholly owned indirect subsidiary of STERIS plc, was created in 1996 and provides a range of sterile linen and laundry management services to hospitals and other healthcare providers throughout the UK including NHS Trusts, private hospitals, ambulance Trusts and healthcare and community Trusts. The purchased company owns three dedicated LMS facilities in Derby, Sheffield and Dunstable.

STAR’s aim is to support the continued growth of the business organically, continuously improving operating efficiencies and by exploring adjacent markets and services. LMS’ ability to operate as an independent company is supported by its strong performance to date and its highly stable, non-cyclical, business. The newly acquired business will continue to be run by its experienced management team, led by Mike Langhorn. Mike was appointed MD of the division in 2013 and has already been instrumental in growing the business.

The LMS acquisition is the second acquisition by STAR in the healthcare and public services sector, following its investment in Alloheim Senioren Residenzen AG in March of 2008.

Today’s announcement provides yet another example of STAR’s strategy to acquire and develop attractive asset-based businesses with strategic market positions and strong growth prospects.

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