Sheridan Capital Partners Completes Investment in Carolina Components Group, a Key Supplier to Biopharmaceutical Manufacturers

Industry Leader Maurice Phelan Named CEO; Founder John Cooling and Bioprocessing Veteran Maik Jornitz Join Board

CHICAGO--(BUSINESS WIRE)--Sheridan Capital Partners (“Sheridan”) today announced the completion of its investment in Carolina Components Group (“CCG” or the “Company”), a provider of custom-engineered bioprocessing assemblies and components used in the manufacturing of biopharmaceuticals. Financial terms of the private transaction were not disclosed. Concurrent with the investment, CCG has named Maurice Phelan as the Company’s new CEO. CCG Founder, John Cooling, will join the Board of Directors while he and other CCG leaders remain meaningful owners of the Company.

Founded in 2020 and headquartered in Durham, North Carolina, CCG supplies ultra-pure components, custom-engineered single-use assemblies, and process solutions that support highly regulated biopharmaceutical production environments for over 250 biopharmaceutical and contract manufacturing customers. As a customer service-focused partner, CCG leverages its extensive experience and bioprocessing expertise to address growing industry demand and new technology requirements.

“The team at CCG has worked extremely hard to develop our reputation as a high-quality provider of custom solutions to our customers,” said CCG Founder and Board Member, John Cooling. “We are excited to partner with Sheridan, whose operational resources and knowledge of our market will enable us to accelerate growth with our customers.”

“CCG is the result of our multi-year thesis in the pharmaceutical manufacturing supply chain, and we are very excited to be partnering with the Company at this inflection point,” said Michael Bernard, Partner at Sheridan.

New CEO Maurice Phelan brings extensive leadership experience in the bioprocessing sector to CCG, having most recently served as President of Sartorius North America. Mr. Phelan has also held executive leadership positions at other sector leaders including GE Lifesciences (now Cytiva), Repligen, and Merck Millipore.

“I am thrilled to be joining CCG and I look forward to partnering with the existing team and Sheridan to continue the Company’s strong legacy of quality, expertise and deep customer focus,” said Phelan. “With Sheridan’s support and guidance, we are well-positioned to expand our offerings and deepen relationships across our diversified blue-chip customer base.”

Bioprocessing industry veteran and Sheridan Advisor, Maik Jornitz, will also join the CCG Board.

“CCG stands out as a partner defined by quality, customer focus, and reliability, and I am very happy to join and support the company’s exceptional growth trajectory,” added Jornitz, who spent 25 years at Sartorius, including as a Senior Vice President, Bioprocess, and 10 years at G-CON Manufacturing, most recently as CEO.

The transaction was led by Sean Dempsey, Michael Bernard, and Conor Kolstad at Sheridan Capital Partners. Kirkland & Ellis LLP served as legal counsel to Sheridan Capital Partners. Houlihan Lokey served as financial advisor and McDermott Will & Schulte LLP served as legal counsel to Carolina Components Group.

About Sheridan Capital Partners

Sheridan Capital Partners is a private equity firm focused exclusively on partnering with businesses across the healthcare landscape, including outsourced services, products and manufacturing, providers, and software and technology. Sheridan’s engaged operational approach brings strategic resources and deep industry expertise with the purpose of accelerating growth, building enduring value, and generating strong results. For more information, visit www.sheridancp.com.

About Carolina Components Group

Founded in 2020 and headquartered in Durham, North Carolina, CCG supplies ultra-pure components, custom-engineered assemblies, and process solutions that support highly regulated biopharmaceutical production environments. For more information, visit www. https://carolinaflow.com.