Mirion Technologies, a provider of detection, measurement, analysis and monitoring solutions, has gone public after merging with GS Acquisition Holdings Corp II, a blank check company backed by Goldman Sachs. Mirion began trading October 21, 2021 on the New York Stock Exchange under the ticker symbol “MIR.” Mirion was backed by Charterhouse Capital Partners LLP.
Atlanta, GA October, 21, 2021 – Mirion Technologies, Inc. (“Mirion”) (NYSE: MIR), a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets, announced that its Class A common stock and warrants will begin trading on the New York Stock Exchange today under the symbols “MIR” and “MIRW”, respectively. Management will participate in a closing bell ceremony at the New York Stock Exchange today, October 21, 2021, in celebration of the public listing.
“We are thrilled to embark upon our next chapter as a public company, and to continue to lead the market in radiation solutions and services,” commented Thomas Logan, Chief Executive Officer of Mirion. “This transaction allows us to continue to execute on our strategic growth plans by expanding our product suite across the industrial technology and medical segments and further executing on our robust acquisition pipeline. We are also very pleased to welcome Larry Kingsley to our Board as Chairman, who brings with him a proven track record of operational success and driving value creation for shareholders. I would like to thank the entire Mirion team, as well as our partners Larry and Goldman Sachs, for their support throughout this process, and we look forward to entering this next phase for our business together.”
Larry Kingsley, former CEO of Pall Corporation and IDEX Corporation, will assume the role of Chairman of the Company. Mirion will continue to be led by 20-year industry veteran and company founder, Mr. Logan.
Larry Kingsley, Chairman of Mirion, said, “I am very pleased to be joining Tom and the Mirion team, who have done an excellent job building a global company in good industries, with strong margin profiles and robust free cash flow generation. There is ample room ahead to drive margin expansion, execute on organic growth opportunities, and drive long-term shareholder value.”
Prior to the closing of the business combination, Mirion was majority owned by Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, which first invested in Mirion in 2015.
Chris Warren, Partner at Charterhouse, remarked, “Mirion’s robust growth in recent years is a testament to the dedication of the whole Mirion team. Having become the global leader in nuclear measurement, and following its strategic expansion into medical and life sciences, Mirion is well positioned to capitalise on a wide range of additional growth opportunities. We look forward to seeing Mirion’s continued development and further accomplishments in years to come and wish Tom and his team the best of luck.”
Mirion is a global provider of products, services, and software that allows customers to safely leverage the power of ionizing radiation through critical applications in the medical, nuclear and defense markets, as well as laboratories, scientific research, analysis and exploration. Mirion generated $612 million in revenue for the fiscal year ended June 30, 2021, up 27.9% from the prior-year period, reflecting core industrial market growth and the continued success of key new product introductions in the medical field.
Goldman Sachs & Co. LLC acted as lead placement agent and exclusive financial advisor to GS Acquisition Holdings Corp II (“GSAH”). Lazard Ltd. and HSBC acted as financial advisors to Charterhouse and Mirion. Goldman Sachs Lending Partners LLC, Citigroup Global Markets Inc., Jefferies Finance LLC and JPMorgan Chase Bank, N.A. acted as joint lead arrangers and joint bookrunners for the debt financing in support of the transaction. Weil, Gotshal & Manges LLP acted as legal advisor to GSAH. Davis Polk & Wardwell LLP acted as legal advisor to Mirion and Freshfields Bruckhaus Deringer LLP acted as legal advisor to Charterhouse. Sullivan & Cromwell LLP acted as legal advisor to Goldman Sachs & Co. LLC as lead placement agent. Milbank LLP acted as legal advisor to Goldman Sachs Lending Partners LLC and Citigroup Global Markets Inc.
Mirion Technologies is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. The organization aims to harness its unrivaled knowledge of ionizing radiation for the greater good of humanity. Many of the company’s end markets are characterized by the need to meet rigorous regulatory standards, design qualifications and operating requirements. Headquartered in Atlanta (GA – USA), Mirion employs around 2,500 people and operates in 13 countries. For more information, and for the latest news and content from Mirion, visit Mirion.com. Prior to the closing of the business combination, Mirion was majority owned by Charterhouse Capital Partners LLP.
GS Acquisition Holdings Corp II (NYSE: GSAH) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. The company is sponsored by an affiliate of The Goldman Sachs Group, Inc. In June 2020, GSAH completed its initial public offering, raising $750 million from investors.