Acquisition of Canberra by Mirion Technologies
USA
Sycomore Corporate Finance acted as financial advisor to Charterhouse and Mirion Technologies
This transaction is part of the transformation plan of Areva to refocus its business on nuclear cycle processes.
Rationale
Canberra (headquartered in Meriden) is a world leader in the nuclear measurement industry. The company designs, manufactures and markets equipment and systems used to detect and measure radioactivity to safeguard personnel and the public. The complete range of Canberra’s products and services includes inspection of industrial nuclear facilities, waste characterization, laboratory measurements, radioprotection and systems for surveillance and nuclear waste non-proliferation.
Canberra reported revenue of approximately €180m in 2014 and employs over a thousand employees throughout the world, a quarter of whom are located in France.
Mirion Technologies is a leading global provider of nuclear measurement solutions. It provides nuclear detection, measurement, analysis and monitoring products that enable its customers to meet rigorous safety, security and environmental requirements and regulations. It has a diversified blue chip client base across sectors including nuclear power, healthcare, military and homeland security, hospitals, universities and other specialist industries.
The company was created in 2005 through the merger of three component businesses based in the US and France. Headquartered in the San Francisco Bay Area, it has 1,000 employees (40% in France) and 11 operating facilities (5 in North America 6 in Europe) providing coverage for private sector and government clients in developed and emerging markets.
Charterhouse is one of the longest established private equity firms operating in Europe. The firm invests in companies headquartered in Western Europe and works closely with incumbent management teams, backing them and providing active support to drive growth. Transaction values range from €250m to €2bn. Charterhouse is based in London and has completed over 140 transactions for an aggregate value of over €50bn since inception.