Warburg Pincus and GTCR close recap of Sterigenics

Private equity sponsors Warburg Pincus and GTCR have closed their previously announced recapitalisation of Sterigenics International, according to an announcement by the target company. Financial terms were not released.

A Deerfield, Ill.-based provider of contract sterilisation services for healthcare and food safety purposes in North America, Europe and Asia, Sterigenics initially announced its recapitalisation with New York's Warburg Pincus and Chicago-based GTCR in March. GTCR acquired Sterigenics, a company with 2,500 customers, from London's Silverfleet Capital for $675 million in February 2011 as Private Equity International reported at the time.

“Their commitment enables Sterigenics to accelerate our growth, invest further capital to serve customers and build out our global scale,” said Michael Mulhern, CEO of Sterigenics International, commenting on its latest deal with Warburg Pincus and GTCR, in a statement.

Following its acquisition by GTCR in 2011, Sterigenics grew through a series of add-on acquisitions. In 2014, the company acquired three complementary businesses: the radioactive isotope Cobalt 60 provider Nordion; gamma irradiation sterilisation company FTSI, and Gammarad, another gamma irradiation sterilisation company.