Private equity firm Warburg Pincus LLC has agreed to acquire a majority stake in Sterigenics International LLC in a deal that values the U.S. provider of contract sterilization services at more than $2 billion, including debt, a source familiar with the transaction said on Monday. The companies said in a press release that Warburg Pincus would "recapitalize" Sterigenics in partnership with its current owner, takeover firm GTCR LLC, but the announcement did not disclose the terms of the deal.Warburg Pincus will own a majority stake in Sterigenics, while GTCR will own the rest, the source said, asking not to be identified because the announcement does not disclose the terms of the deal.Reuters first reported in October that GTCR had hired Goldman Sachs Group Inc and Jefferies LLC to explore a sale of Sterigenics.The agreement comes less than a year after Sterigenics acquired Nordion, a provider of radioactive isotopes for the global health science market, for $826 million. That deal was largely driven by Sterigenics' desire to secure the supply of a cobalt isotope that is used in the sterilization of medical devices and tools.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management company. Shares of GS fell by 0.01% or $-0.02/share to $193.11. In the past year, the shares have traded as low as $151.65 and as high as $198.06. On average, 2641070 shares of GS exchange hands on a given day and today's volume is recorded at 707109.