Warburg Pincus $2.3 billion acquisition of Sterigenics International

17/5/2015
Acquisition finance, High-yield bond/note issue, Private acquisition

$ 2.3 billion

Completed

17/5/2015


Overview:

  • Private equity firm Warburg Pincus has acquired a majority stake in Sterigenics International in a $2.3 billion deal.
  • Sterigenics provides sterilization services for the medical products industry.
  • Previous majority shareholder GTCR retained a minority stake in the company.
  • As part of Sterigenics' acquisition and recapitalisation, the company obtained a $1.05 billion term loan and a $172.5 million revolving credit facility.
  • Sterigenics also made a high yield offering of $450 million 6.5% notes due 2023 as part of the recapitalisation.
  • JP Morgan Securities, Jefferies, Barclays Capital and RBC Capital Markets acted as joint lead arrangers and initial purchasers in connection with the financing and debt offering.
  • The acquisition was first announced in March 2015.

Kurt Stumpo - Journalist

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