Both firms focus on serving multi-site commercial clients and partner with brands across the country.
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October Capital will be led by Frank Baker, who co-founded Siris in 2011 and will serve as CEO and managing partner of the new firm.
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The deal marks the private equity firm’s first investment in the consumer health sector.
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Matheson Industrial is a specialty services provider serving industrial and public sector customers.
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Its portfolio spans infant, pediatric, adult and medical nutrition, with brands including Ensure, PediaSure, Glucerna and Similac.
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