GTCR announced that it entered into a Leaders Strategy partnership to form Epselon Global with a focus on acquiring healthcare businesses.
The private equity firm partnered with Michael Mulhern and Phil Macnabb to form the Chicago-based company centered around acquiring companies and assets as part of a strategy to build a market-leading healthcare business, according to a news release.
Leaders Strategy was pioneered by GTCR to find and partner with management leaders in core domains to identify, acquire and build market-leading companies.
Through the Leaders Strategy, GTCR will invest in Epselon from its GTCR Fund XIII, a private equity fund with $7.5 billion in limited partner capital commitments. Mulhern will serve as the executive chairman and Macnabb will hold the role of CEO, while each will make a substantial investment alongside GTCR.
“We are very excited to once again partner with Michael and Phil,” GTCR managing director Sean Cunningham said in the release. “As a result of our long-term relationship and previous partnerships with them, we have tremendous respect for their strategic vision, operational abilities and M&A acumen. Their broad industry experience and expertise within healthcare make them ideal partners as GTCR commits to building another platform in the space.”
Mulhern has previously been CEO of four companies — Sotera Health, Albany Molecular Research, Fairmount Food Group and American Sanitary — all backed by GTCR. He also held other roles at Baxter and Alliant Foodservice.
Macnabb worked with Mulhern at Sotera Health, Fairmount Food Group and American Sanitary. He most recently served as president of Sotera Health’s largest division, Sterigenics.
“I am thrilled about the opportunity to work with GTCR for a fifth time and to build a leading healthcare company as part of The Leaders Strategy,” added Mulhern. “GTCR has been an ideal partner over the past two decades, demonstrating exceptional leadership, enabling growth and providing the support and resources required to build successful companies. I look forward to this next partnership with GTCR and Phil.”
“It is a great opportunity to once again partner with GTCR,” Macnabb said. “The support and domain expertise provided by GTCR has been instrumental in the success of our past partnerships. GTCR focuses on building real and sustained value in the companies they invest in. With Epselon Global, we plan to invest in the healthcare sector at a time of rapid change and, together with Michael and GTCR, I believe we can create something unique with a lasting positive impact in the industry.”