Partners Group, Avista Said to Plan Sale of Strategic Partners

  • Buyout groups said to work with Baird Capital on exit options
  • Medical apparel company owned by two firms since 2012

Partners Group Holding AG and Avista Capital Partners are exploring a sale of Strategic Partners, a maker of medical uniforms and apparel, according to people familiar with the matter.

The buyout firms are working with Robert W. Baird & Co. to seek potential buyers for the company, said the people, who asked not to be identified because the information is private. A sale could could fetch as much as $900 million, the people said.

Partners Group, based in Zug, Switzerland, has doubled its assets under management to 46 billion euros ($51 billion) in the past five years, largely by increasing its exposure to the U.S. market. The company plans to build a new U.S. headquarters in Denver, it said in a statement this month.

Strategic Partners, based in Chatsworth, California, was established in 1995 and is the industry leader in fashion-inspired medical apparel, according to its website. the company’s brands include Cherokee Uniforms and Dickies medical scrubs. Strategic has been owned by Partners and Avista since September 2012, when Bank of America Corp.’s Merrill Lynch Capital Partners sold its stake for an undisclosed sum.

Representatives for Avista and Partners Group declined to comment, while spokesmen for Baird and Strategic Partners didn’t respond to e-mail requests for comment.

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