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Sterigenics completes recapitalisation with Warburg Pincus and GTCR

Sterigenics International has closed a recapitalisation with an affiliate of Warburg Pincus and GTCR, which was announced in March 2015.  Terms of the transaction have not been disclosed.  

GTCR purchased Sterigenics in March 2011.

“We are incredibly energized to be partnering with Warburg Pincus and GTCR,” says 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,” says Mulhern, “and at the same time, benefiting the millions of people around the world who daily count on our services.”

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