BETHESDA, Md., April 8, 2015 /PRNewswire/ -- American
Capital, Ltd. (Nasdaq: ACAS) announced today that Mirion
Technologies, Inc. ("Mirion") was sold to Charterhouse Capital
Partners, LLP for $750 million.
Mirion is a global provider of radiation detection, measurement,
analysis and monitoring products and services to the nuclear power,
medical, military and homeland security markets.
Mirion was created in December 2005 through the merger of
portfolio companies synOdys, Global Dosimetry Solutions (GDS) and
Imaging and Sensing Technology (IST). Following the merger,
the three companies were realigned into the current five business
segments: the Sensing Systems Division, the Imaging Systems
Division, the Radiation Monitoring Systems Division, the Dosimetry
Services Division and the Health Physics Division.
Headquartered in San Ramon, CA,
Mirion has 13 facilities across North
America, Europe and
Asia and employs more than 1,000
people.
David Steinglass, Partner,
American Capital Equity III, said, "This is the second exit for
American Capital Equity III and represents a terrific outcome for
all of our investors. We wish the management team all the
best in their new partnership with Charterhouse."
"The sale of Mirion represents a successful conclusion to our
long-standing relationship with American Capital and its affiliated
funds," said Mirion Chairman & CEO Thomas Logan. "We are pleased to have
created significant value for our shareholders and we are grateful
for their support, partnership and camaraderie over the past
decade."
"Mirion has been a long-term project at American Capital since
we made the first investments in 2003 in three small nuclear
equipment companies. We worked closely with Tom to integrate
those platform companies and have seen the combined business grow
into a truly global market leader," noted Dustin Smith, Managing Director, American
Capital.
The original investments were made by American Capital. In
2006, 2007 and 2014 American Capital sold 30%, 12% and 58% of its
equity interests to American Capital Equity I, American Capital
Equity II and American Capital Equity III, respectively. The
equity investment by American Capital and its affiliated funds
realized a 21% compounded annual return over the life of the
investments and the blended return on senior debt, subordinated
debt and equity totaled a 17% compounded annual return.
American Capital Asset Management, a wholly-owned subsidiary of
American Capital, managed these investments on behalf of these
three private equity funds under fee and profit sharing
arrangements.
ABOUT AMERICAN CAPITAL EQUITY III, LP
American
Capital Equity III, LP ("ACE III") is a $1.1
billion private equity fund focused on acquiring control
equity positions in companies with $5 to $25
million of EBITDA. ACE III is managed by a subsidiary
of American Capital Asset Management, LLC, which is wholly owned by
American Capital, Ltd., and based in Bethesda, MD. For more information,
please refer to www.acequity.com.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private
equity firm and global asset manager. American Capital, both
directly and through its asset management business, originates,
underwrites and manages investments in middle market private
equity, leveraged finance, real estate, energy & infrastructure
and structured products. American Capital manages
$22 billion of assets, including
assets on its balance sheet and fee earning assets under management
by affiliated managers, with $86
billion of total assets under management (including levered
assets). Through a wholly-owned affiliate, American Capital
manages publicly traded American Capital Agency Corp. (Nasdaq:
AGNC), American Capital Mortgage Investment Corp. (Nasdaq: MTGE)
and American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with
approximately $11 billion of total
net book value. From its eight offices in the U.S.,
Europe and Asia, American Capital and its wholly-owned
affiliate, European Capital, will consider investment opportunities
from $10 million to $600 million. For
further information, please refer to www.americancapital.com.
Contact: (301)
951-6122
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American
Capital
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American Capital
Equity III
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Brian Graff,
President Private Finance
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David Steinglass,
Partner
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Dustin Smith,
Managing Director
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Sean Eagle,
Partner
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Jimmy Byun,
Principal
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SOURCE American Capital, Ltd.