DEERFIELD, Ill.--(BUSINESS WIRE)--Sterigenics International LLC, the leading global provider of contract sterilization, gamma technologies and medical isotopes, and a portfolio company of Warburg Pincus and GTCR, was named the 2015 Private Equity-backed Portfolio Company of the Year by the Illinois Venture Capital Association (IVCA). The voting panel consisted of more than 50 IVCA Board members and prior recipients of IVCA Awards.
“We are honored to receive this award,” said Michael Mulhern, CEO of Sterigenics International. “It is a direct reflection of the commitment and performance of our 1800 employees around the world who are working every day to help improve global public health.”
In giving the award, the IVCA highlighted the broad range of operational initiatives by GTCR and Sterigenics that enhanced quality, increased customer service, grew and improved capacity across the network, and strategically expanded the company’s global footprint. Sean Cunningham, a Managing Director at GTCR, presented the award to Michael Mulhern on behalf of the IVCA.
Sterigenics strategically repositioned itself through three acquisitions, including two sterilization facilities and the transformative acquisition of a key supplier, Nordion. The moves broadened the Sterigenics 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.
In May 2015, Sterigenics International closed a recapitalization with an affiliate of Warburg Pincus and GTCR. GTCR purchased Sterigenics in 2011.
The IVCA enhances the growth of the Midwest's $100 billion venture capital/private equity community by advocating on behalf of the industry. This includes promoting institutional investment in local private equity firms, providing networking opportunities and supporting public policy initiatives that make Illinois an appealing financial center.
Past IVCA award recipients have included Fieldglass, GrubHub, Flexera Software, Great Kitchens, and former GTCR portfolio companies Actient Pharmaceuticals and Ovation Pharmaceuticals.
About Sterigenics International LLC
Sterigenics International LLC, along with its affiliates, is a global leader in outsourced contract sterilization services, gamma technologies and medical isotopes, and the only vertically integrated sterilization company in the world. Operating out of 47 facilities in 13 countries across the Americas, Europe and Asia, Sterigenics provides contract sterilization and ionization services for the medical device, pharmaceutical, food safety, and high-performance materials industries. Through its SteriPro® Labs service, Sterigenics offers microbiological and analytical testing and consultancy to assist customers in developing and maintaining sterilization solutions in medical devices, tissue/implantable products, and pharmaceuticals and biologics fields. Affiliate Nordion positions Sterigenics as the world’s largest provider of Cobalt-60 used in the gamma sterilization process as well as medical isotopes used in the diagnosis and treatment of various diseases and cancers. Sterigenics International LLC and its affiliates serve more than 2,500 customers around the world and is owned by private equity firms Warburg Pincus and GTCR.