---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-092481"
form_type: "8-K"
ticker: "STE"
cik: "0001757898"
company_name: "STERIS plc"
filed_at: "2024-04-11T23:59:59+00:00"
generated_at: "2026-06-04T00:07:43.487208+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# STERIS to sell Dental segment to Peak Rock Capital for $787.5M cash, plus earnout

## Summary
- Purchase price $787.5M cash (subject to adjustments) plus up to $12.5M earnout on FY2025 revenue targets.
- Dental segment reported $407M revenue and $86M segment operating income in trailing 12 months ended Dec 31, 2023.
- Transaction expected to close in Q1 FY2025; proceeds primarily to repay debt, with estimated interest expense benefit of ~$0.35/sh.
- Segment to be reported as discontinued operations for Q4 and full year FY2024; FY2025 outlook to be provided with Q4 results.
- Closing subject to Hart-Scott-Rodino approval and customary conditions; termination fee of $35M payable by buyer in certain scenarios.

## SEC filing metadata
- accession: 0001193125-24-092481
- form_type: 8-K
- ticker: STE
- cik: 0001757898
- company_name: STERIS plc
- filed_at: 2024-04-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1757898/000119312524092481/0001193125-24-092481-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1757898/000119312524092481/d752903d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-092481
- JSON: https://secwatch.observer/filing/0001193125-24-092481.json
- Plain text: https://secwatch.observer/filing/0001193125-24-092481.txt

## Key facts
- Material Agreements
  STERIS plc entered into Equity Purchase Agreement with HuFriedy Group Holding LLC valued at $787.5 million in cash, subject to customary adjustments, and up to $12.5 million in contingent paym (effective 2024-04-10).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: HuFriedy Group Holding LLC
  - Value: $787.5 million in cash, subject to customary adjustments, and up to $12.5 million in contingent paym
  - Effective: 2024-04-10
  source text: On April 10, 2024, STERIS Corporation (“Seller”), a wholly owned subsidiary of STERIS plc (“STERIS”), and certain affiliates, entered into an Equity Purchase Agreement (the “Purchase Agreement”) with HuFriedy Group Holding LLC (the “Purchaser”), an affiliate of Peak Rock Capital LLC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1757898/000119312524092481/0001193125-24-092481-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.