Stephen McLean Joins Arsenal Capital

Stephen McLean has joined Arsenal Capital Partners as a partner, with a focus on the healthcare sector. He was a founding partner of Merrill Lynch Capital Partners and its successor funds.


Arsenal Capital Partners, a leading New York-based private equity firm that invests in middle market specialty industrial, healthcare and financial services companies, today announced the appointment of Stephen M. McLean as a Partner.  Mr. McLean will strengthen Arsenal’s seven-member healthcare practice, help shape the sector investment strategy, and lead the sourcing, evaluation and management of investments.

Mr. McLean, a founding partner of Merrill Lynch Capital Partners and its successor funds, has also been an active investor and board member in the healthcare industry for the past 13 years focusing on the areas of life sciences, medical devices and information services.

“Steve has an exceptional track record of investing in, leading, and building companies, and has deep expertise investing in the healthcare sector,” said Terrence Mullen, a Partner at Arsenal.  “We have focused on the healthcare sector since our founding in 2000, have amassed a successful investment track record in the sector, and we are pleased to have someone of Steve’s caliber strengthen our team.  Steve’s extensive industry network and domain knowledge align with the Arsenal strategy and model and his complementary expertise will further augment our healthcare effort.  Steve is a terrific person and team player who fits well with the culture of our organization.”

Mr. McLean’s healthcare experience includes having been a founding investor and director of Agencourt Bioscience Corporation and Agencourt Personal Genomics. He was also an investor and member of the Board of Packard Bioscience Corporation, among other companies.  He currently serves on the boards of several healthcare companies including Avantra Bioscience, RS Medical, and CentriHealth.  In addition, Mr. McLean is Chairman of the International Biomedical Research Alliance, a private sector foundation formed to support an advanced biomedical PhD program in conjunction with the National Institutes of Health, Oxford University and Cambridge University.

“I have spent roughly 30 years investing in companies and for nearly half of that time have been closely involved with a number of innovative healthcare companies dedicated to improving the efficacy of patient care and reducing costs.  I am impressed with the entire team at Arsenal.  We share the same strategic vision for investing in healthcare companies with high growth potential, proven management teams, and leverageable products and technologies.  I look forward to collaborating with the Arsenal healthcare group as we work to build successful, impactful businesses.”

According to Mr. Mullen, Arsenal has a robust pipeline of investment opportunities in the healthcare sector that have compelling business models and Mr. McLean will greatly enhance the evaluation of those businesses.

In addition to having been a founder of Merrill Lynch Capital Partners in 1984, Mr. McLean was a Managing Director of successor funds Stonington Partners and Arena Capital Partners.  He began his career in the Mergers & Acquisitions Department at Merrill Lynch in 1980.  Mr. McLean holds an M.B.A. and a B.S. in Economics from the Wharton School of the University of Pennsylvania.

About Arsenal Capital Partners

Arsenal Capital Partners is a New York-based private equity firm that makes investments in specialty industrial, healthcare and financial services companies.  Arsenal makes investments in sectors where the firm has prior knowledge and experience, and targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities.  Arsenal currently has $800 million of committed equity capital.  For additional information on Arsenal Capital Partners please visit