Sterigenics is recapitalised to accelerate growth

Operating in 12 countries, Sterigenics provides contract sterilisation and ionisation services

Sterigenics International, a global provider of contract sterilisation, gamma technologies and medical isotopes, has announced that an affiliate of Warburg Pincus, a global private equity firm, will recapitalise Sterigenics in partnership with private equity firm GTCR. Terms of the transaction were not disclosed. GTCR purchased Sterigenics in 2011.

'With this new partnership between Warburg Pincus and GTCR, Sterigenics is extraordinarily well positioned to accelerate growth, invest additional capital to serve our customers and expand our global footprint,' said Michael Mulhern, CEO of Sterigenics International.

Sterigenics has seen considerable growth over the past few years. In 2014, the company acquired Nordion, the world’s largest provider of Cobalt-60, an isotope that produces gamma radiation and is a critical component of the gamma sterilisation process, creating the only vertically integrated sterilisation services company in the world.

The Nordion acquisition expanded the Sterigenics product portfolio, as well as its service offering and global footprint worldwide. Additional acquisitions in 2014 included the Florida-based gamma irradiation operator, FTSI, as well as Gammarad, Italy’s leading gamma irradiation sterilisation company, which now serves as the company’s second gamma sterilisation facility in Western Europe. 

In February, Nordion reached partnership agreements with General Atomics and the University of Missouri Research Reactor Center (MURR) to establish a new, long-term supply of medical isotopes that will serve millions of patients around the world. Achieving a long-term supply of medical isotopes for global customers has been a priority of Sterigenics since its acquisition of Nordion. 

The transaction is expected to close in the second quarter of 2015. 

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