Sheridan backs bioprocessing supplier CCG and installs new CEO
What's the deal? Sheridan Capital PartnersDealroom has a profile for this one. Try Dealroom → has completed a growth equity investment in Carolina Components Group (CCG)Dealroom has a profile for this one. Try Dealroom →, a Durham, North Carolina supplier of custom-engineered bioprocessing assemblies and components used to manufacture biopharmaceuticals. Financial terms were not disclosed. Alongside the deal, CCG named Maurice Phelan as chief executive officer.
What does CCG do? Founded in 2020, the company supplies ultra-pure components, custom-engineered single-use assemblies, and process solutions to more than 250 biopharmaceutical and contract manufacturing customers. Founder John Cooling will join the board and remains a meaningful owner alongside other CCG leaders.
The new CEO: Phelan takes over from Cooling and brings sector experience from senior roles at SartoriusDealroom has a profile for this one. Try Dealroom →, GE Lifesciences (now Cytiva)Dealroom has a profile for this one. Try Dealroom →, RepligenDealroom has a profile for this one. Try Dealroom →, and Merck MilliporeDealroom has a profile for this one. Try Dealroom →, most recently as president of Sartorius North America. Bioprocessing veteran Maik Jornitz, who spent 25 years at Sartorius and later led G-CON ManufacturingDealroom has a profile for this one. Try Dealroom →, will also join the board.
What's the endgame? Sheridan said the deal caps a multi-year thesis in the pharmaceutical manufacturing supply chain. "We are very excited to be partnering with the Company at this inflection point," said partner Michael Bernard, pointing to growth across CCG's customer base.
The signal: The investment reflects private equity's appetite for the picks-and-shovels layer of drug manufacturing — the specialised components and single-use systems that regulated production depends on. By pairing capital with a seasoned operator, Sheridan is betting that a five-year-old supplier can scale into a larger role in the bioprocessing supply chain.
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