FOR IMMEDIATE RELEASE
DEERFIELD, IL AND NEW YORK, NY – May 15, 2015 – Sterigenics International, the leading global provider of contract sterilization, gamma technologies and medical isotopes, today announced that it has closed a recapitalization with an affiliate of Warburg Pincus and GTCR, which was announced in March 2015. Terms of the transaction were not disclosed. GTCR purchased Sterigenics in March 2011.
“We are incredibly energized to be partnering with Warburg Pincus and GTCR,” said Michael Mulhern, CEO, Sterigenics International LLC. “Their commitment enables Sterigenics to accelerate our growth, invest further capital to serve customers and build out our global scale.”
Sterigenics’ growth over the past several years has reinforced its global market-leading position in the contract sterilization services industry. In 2014, Sterigenics acquired Nordion, the world’s largest provider of Cobalt-60, an isotope that produces gamma radiation and is a critical component of the gamma sterilization process, creating the only vertically integrated sterilization services company in the world. The acquisition of Nordion expanded the Sterigenics product portfolio, service offering, and global footprint to better serve customers worldwide. Additional acquisitions in 2014 included the Florida-based gamma irradiation operator, FTSI, as well as Gammarad, Italy’s leading gamma irradiation sterilization company, which now serves as the company’s second gamma sterilization facility in Western Europe.
In February 2015, Nordion reached landmark 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 strategic priority of Sterigenics since its acquisition of Nordion.
“We look forward to continuing on our mission to improve global public health,” continued Mulhern, “and at the same time, benefiting the millions of people around the world who daily count on our services.”
About Sterigenics International LLC
Sterigenics International LLC is a global leader in outsourced contract sterilization services, gamma technologies and medical isotopes, and the only vertically integrated sterilization company in the world. Operating out of 43 facilities in 12 countries across the Americas, Europe and Asia, Sterigenics provides contract sterilization and ionization services for the medical device, pharmaceutical, food safety, and high-performance materials industries. Through SteriPro® Labs service, Sterigenics offers microbiological and analytical testing and consultancy to assist customers in developing and maintaining sterilization solutions in medical devices, tissue/implantable products, and pharmaceuticals and biologics fields. Subsidiary Nordion positions Sterigenics as the world’s largest provider of Cobalt-60 used in the gamma sterilization process as well as medical isotopes used in the diagnosis and treatment of various diseases and cancers. Sterigenics International LLC serves more than 2,500 customers around the world.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $35 billion in assets under management. The firm’s active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value.
Founded in 1966, Warburg Pincus has raised 14 private equity funds, which have invested more than $50 billion in over 720 companies in more than 35 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mauritius, Mumbai, San Francisco, São Paulo and Shanghai. For more information, please visit www.warburgpincus.com.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com.