GTCR Acquires Nordion
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GTCR Acquires Nordion

nordion nf1Sterigenics International, a provider of outsourced contract sterilization services and a portfolio company of GTCR, has completed its $826 million acquisition of Nordion.

Nordion is a provider of medical isotopes and sterilization technologies that are used daily by pharmaceutical and biotechnology companies, medical-device manufacturers, hospitals, clinics and research laboratories.  The company was founded in 1946 and its headquarters and main processing facilities are in Ottawa, Ontario, with additional facilities in Vancouver, British Columbia and Laval, Quebec (www.nordion.com).

“We are incredibly excited to welcome the Nordion employees to the global Sterigenics team,” said Michael Mulhern, Sterigenics International LLC CEO. “For more than 30 years, we have known the Nordion organization and have deep respect and appreciation for their people and expertise. By completing this acquisition, we are creating the only vertically integrated sterilization company in the world and will have a broader product portfolio, service offering, and global footprint to better serve customers worldwide. Moving forward, Sterigenics is extremely well positioned to build on its mission of improving global public health.”

sterigenicsSterigenics International, acquired by GTCR in March 2011, provides outsourced contract sterilization services, primarily to the medical device, pharmaceutical, food safety and high performance/specialty materials industries. The company operates out of 39 facilities in 11 countries across the Americas, Europe and Asia and is headquartered in the Chicago suburb of Deerfield, IL (www.sterigenics.com).

The buy of Nordion is the second strategic acquisition by Sterigenics this year. In March, Sterigenics closed the acquisition of Food Technology Service, an irradiation facility that uses gamma radiation to provide contract sterilization services to the medical products, packaging and food industries. Food Technology Service is based in a Mulberry, FL (www.ftsi.us).

GTCR pioneered the investment strategy of identifying and partnering with executives to acquire and build companies through a combination of acquisitions and internal growth. The firm currently has nearly $11 billion in assets under management. Since its inception in 1980, GTCR has invested more than $10 billion in over 200 companies. The firm is based in Chicago (www.gtcr.com).

Goldman, Sachs & Co. served as financial advisor to Sterigenics.

2014 PEPD • Private Equity’s Leading News Magazine • 8-7-14

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