Sterigenics International will be recognized as the 2015 IVCA Private Equity Portfolio Company of the Year

Sterigenics International will be recognized as the 2015 IVCA Private Equity Portfolio Company of the Year

October 14, 2015

THE 2015 IVCA Porfolio Company of the Year Award (Private Equity) will be presented to Sterigenics International.

The IVCA Portfolio Company of the Year Awards recognize outstanding Illinois companies who had a realized liquidity event in 2014 or 2015 and the exit was successful for investors.

IVCA Member firm GTCR partnered with two exceptional leaders (and previous GTCR portfolio company executives), Michael Mulhern and Phil Macnabb, in March 2011 to acquire Sterigenics International LLC. Over the next four years, Mr. Mulhern, Mr. Macnabb, and GTCR significantly transformed the business organically and through acquisitions.

The Company implemented a broad range of operational initiatives that enhanced quality, increased customer service, grew and improved capacity across the network, and strategically expanded the Company’s global footprint. Management and GTCR also strategically repositioned the business through three acquisitions, including two sterilization services facilities and the transformative acquisition of a key supplier, Nordion. The add-on facility acquisitions broadened the Company’s geographic footprint, and the vertical integration of Nordion secured the supply of a critical raw material to Sterigenics’ sterilization division and the broader medical device sterilization industry.

As a result of these efforts, management and GTCR built Sterigenics into the only vertically integrated provider of contract sterilization services, with leading global positions across its three main segments. The Company currently serves over 2,500 customers across a global network of 47 facilities in 13 countries in the Americas, Europe, and Asia. Sterigenics employs over 1,700+ FTEs worldwide, including 182 in Illinois.

In May 2015, GTCR sold a majority stake in Sterigenics to Warburg Pincus but maintained a meaningful ownership position in the business.