Buyout shop GTCR has completed its acquisition of Sterigenics International Inc., a provider of contract sterilization and ionization services for medical devices, food products and other applications. The firm bought Oak Brook, Illinois-based Sterigenics from Silverfleet Capital and PPM America Capital Partners. Terms were not released. Jefferies & Company, Bank of America Merrill Lynch and UBS advised GTCR on the transaction.
GTCR, a leading private equity firm, today announced it has successfully completed the acquisition of Sterigenics International, Inc. (“Sterigenics”), the leading global provider of contract sterilization and ionization services for medical devices, food products, and advanced applications, from Silverfleet Capital and PPM America Capital Partners.
The transaction will drive the continued expansion of Sterigenics’ service offering globally. Sterigenics is the sole provider of contract sterilization and ionization services on a global basis, with a network of 38 service centers across North America, Europe, and Asia. The Company provides its customers with comprehensive sterilization solutions, offering technology in all leading sterilization 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,” said Dean Mihas, Principal at GTCR. “We are pleased to have closed this transaction and look forward to partnering with the Sterigenics management team to execute on their plan to grow the business and extend the company’s leadership position.”
“GTCR’s investment is a validation of what we have built at Sterigenics,” noted David Meyer, CEO of Sterigenics. “We are excited to begin a new collaboration with an equity partner committed to our growth as we pursue our strategic goals and expand our service offering to our customers.”
Jefferies & Company, Bank of America Merrill Lynch and UBS advised GTCR on the transaction, and Kirkland & Ellis LLP served as legal counsel to GTCR. J.P. Morgan, Bank of America Merrill Lynch, UBS, and Morgan Stanley provided debt financing in connection with the transaction. GTCR’s investment in Sterigenics was made from GTCR Fund IX, a private equity fund with $2.75 billion of committed capital.
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 world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit www.gtcr.com.
Sterigenics is the leading global provider of contract sterilization and ionization services for medical devices, food safety, and advanced applications. Headquartered in Oak Brook, Illinois, Sterigenics is the sole provider of technology in all leading sterilization modalities, including gamma, ethylene oxide, electron beam, and X-ray. The Company has more than 1,300 employees and operates 38 service centers across North America, Europe, and Asia. For more information, please visit www.sterigenics.com.
About Silverfleet Capital
Established in the mid-1980s, Silverfleet Capital is a leading European private equity firm, specializing in mid-market buyouts, with offices in London, Paris, Munich and Chicago. Since 2000 Silverfleet Capital has invested over €1.5 billion in 25 companies, focusing on buy & build investment strategies. For more information, please visit www.silverfleetcapital.com.
About PPM America Capital Partners
PPM America Capital Partners, based in Chicago, is a leading investor in both private equity co-investments and partnerships and is currently investing its third fund. For more information, please visit www.ppmamerica.com/privateequity.aspx