David Meyer, chief executive of Sterigenics, said GTCR is known for its expertise in healthcare, financial services and information services and technology.
‘Most importantly, they are aligned with our strategy of expanding and improving our geographic and technology network to meet supply chain requirements,’ he added.
The current Sterigenics management team will remain in place.
Silverfleet Capital and PPM America Capital Partners, together with the management team of Sterigenics, acquired the company in 2004 for US$311.5m. Since then, Sterigenics has built two facilities in Shanghai, China, a plant in Wiesbaden, Germany and has expanded eight other facilities in the US, France, Belgium and the UK, at a cost of around $100m.
By the end of 2010 earnings had increased by 75% and a significant part of this is attributable to the investment in additional capacity.
Sterigenics, headquartered in Oak Brook, Illinois, operates 38 service centres worldwide employing more than 1,300 people and offers sterilisation technologies including ethylene oxide, gamma ray, electron beam and x-ray processing.
In addition to sterilising medical products, the company is also active in food safety and the treatment of high performance and specialist materials such as semiconductors and polymers.