Private equity firm GTCR has signed a definitive agreement with Silverfleet Capital and PPM America Capital Partners to acquire Sterigenics International, Inc, a leading provider of contract sterilisation and ionisation services for medical devices, food products, and advanced applications.
The transaction will drive the continued expansion of Sterigenics’ service offering globally. Sterigenics is the sole provider of contract sterilisation and ionisation services on a global basis, with a network of 38 service centres across North America, Europe, and Asia. The company provides its customers with comprehensive sterilisation solutions, offering technology in all leading sterilisation modalities and complementary value-added services. Sterigenics has earned a reputation among its customer base for providing high-quality and cost-effective solutions tailored to customer needs.
“GTCR’s extensive experience investing in leading companies in both the healthcare and business services sectors gives us a unique perspective on the Sterigenics business,” says Dean Mihas, Principal at GTCR. “We look forward to partnering with the Sterigenics management team to execute on their plan to grow the business and extend its leadership position.”
Jefferies & Company, Bank of America Merrill Lynch and UBS advised GTCR on the transaction, and Kirkland & Ellis LLP served as legal counsel to GTCR. JP Morgan, Bank of America Merrill Lynch, UBS, and Morgan Stanley have agreed to provide debt financing in connection with the transaction. GTCR’s investment in Sterigenics will be made from GTCR Fund IX, a private equity fund with USD2.75 billion of committed capital. The transaction is expected to close in the first half of 2011.
