Vance Street Capital, a Los Angeles-based private equity firm, has partnered with Prince Sterilization Services to support company growth. This strategic partnership supports Prince Sterilization Services’ growth in the medical device and pharmaceutical sterilization markets.  The acquisition represents Vance Street’s second investment out of Vance Street Capital IV and its 15th investment in the life sciences and medical space.

Prince provides environmentally friendly and sustainable sterilization services primarily focused on the pharmaceutical, biotechnology, compounding pharmacy, and medical device sectors. The company is headquartered in Pine Brook, NJ, with a full suite of contract sterilization services and RTU products, including steam, dry heat, vaporized hydrogen peroxide (“VHP”), depyrogenation, water for injection (WFI) rinsing, and sterile packaging. Today, the company’s sterilization program focuses on steam and dry heat sterilization and related services.

“The Prince family has built a terrific organization, and we look forward to supporting their continued growth,” said Steve Sandbo, Partner at Vance Street.  “Prince’s focus on eco-friendly sterilization services and products across the pharmaceutical and medical device markets is a great fit with our past investing experience. We are excited to partner with Prince to support the ongoing buildout of additional capabilities and capacity to serve their growing customer base.”

Prince was founded by Dr. Daniel Prince (CEO). Derek Prince serves as the President. Both Daniel and Derek will retain a material ownership position and continue to run the business’s day-to-day operations. Jozef Mastej, Prince’s Vice President of Operations and Business Development, will also continue in his role.

“We are excited about the next chapter of growth and our partnership with Vance Street. Their support will enable us to expand our capabilities and offerings and maintain our commitment to providing innovative and reliable sterilization solutions to our valued customers,” said Derek Prince. 

Prince expanded its sterilization offering into VHP within its new state-of-the-art facility in Pine Brook, in 2024. This complied with the FDA’s announcement that it considers vaporized hydrogen peroxide an established method for medical devices. The facility expansion also increased capacity across all sterilization formats. Adding VHP capacity expands Prince’s eco-friendly and sustainable sterilization capabilities and positions the company to continue to meet their customers’ growing and changing demands.

Grady Miller, Principal at Vance Street, commented, “Prince is a great representation of our strategy of partnering with founder-owned businesses in critical markets, such as pharma, biopharma, and medical devices. We are excited to support Prince’s management in developing new growth opportunities, including broadening their product portfolio and services to meet an evolving market’s needs.”

Terms were not disclosed. Paul Hastings LLP acted as legal advisor to Vance Street. Capstone Partners served as financial advisor to Prince, while Lowenstein Sandler LLP served as legal advisor to Prince.