GTCR completed a transaction to recapitalize Sterigenics with an affiliate of Warburg Pincus.

Sterigenics is a global provider of mission-critical sterilization services to the medical device, pharmaceutical, food safety and high-performance materials industries. In 2014, Sterigenics acquired Nordion, a supplier of medical isotopes and sterilization technologies, creating the only vertically integrated sterilization provider in the world. The company operates more than 40 sterilization facilities across the Americas, Europe and Asia.

GTCR partnered with veteran executives Michael Mulhern and Phil Macnabb to acquire Sterigenics in 2011. Since that transaction, the business has experienced a significant transformation. The management team has grown and improved the platform with operational enhancements, investments in additional capacity and the execution of highly strategic acquisitions, including the acquisition of Nordion.

“We are thrilled to close the recapitalization of Sterigenics, and we look forward to working with Warburg Pincus and the Sterigenics team to continue to grow this market leading business,” said GTCR managing director, Dean Mihas.

“This is another excellent example of GTCR successfully executing its Leaders Strategy with an exceptional management team,” added Sean Cunningham, managing director at GTCR. “We’re excited to partner again with Michael Mulhern, Phil Macnabb, and the entire Sterigenics team to expand the business through both investments in organic growth and additional acquisitions.”

Goldman, Sachs and Jefferies served as financial advisors, and Kirkland & Ellis and Gowling Lafleur Henderson provided legal counsel to Sterigenics and GTCR. J.P. Morgan Securities provided additional financial advice to GTCR and provided debt financing for the transaction, along with Jefferies Finance, Barclays Bank and RBC Capital Markets. Cleary Gottlieb Steen & Hamilton served as legal advisor to Warburg Pincus.

Sterigenics is a global provider in outsourced contract sterilization services, gamma technologies and medical isotopes, and the only vertically integrated sterilization company in the world.