Mirion Technologies, a portfolio company of Charterhouse Capital Partners, has agreed to merge with special purpose acquisition company GS Acquisition Holdings (NYSE: GSAH) that would result in the radiation detection and measurement platforms provider becoming a publicly traded company with an enterprise value of approximately $2.6 billion.
The boards of directors of Mirion and GSAH, which is backed by an affiliate of The Goldman Sachs Group (NYSE: GS) have unanimously approved the transaction that is expected to conclude in the second half of 2021, according to a joint statement released Thursday.
Mirion will list on the New York Stock Exchange under the ticker symbol “MIR” upon the deal’s completion, which is subject to the approval by GSAH stockholders and other customary closing conditions.
Thomas Logan, founder and CEO of Mirion Technologies, will continue to lead the combined company. Larry Kingsley, former CEO of Pall and IDEX, will serve as chairman of the merged entity.
Upon closing of the merger and assuming no redemptions by GSAH stockholders, Charterhouse Capital, co-investors and Mirion will own approximately 19 percent of the combined entity.
The merger transaction is backed by a $900 million fully committed private investment in public equity, including a $200 million anchor PIPE investment from Goldman Sachs. Janus Henderson Investors, funds and accounts managed by BlackRock, Neuberger Berman funds and Fidelity Management & Research Company participated in the PIPE.
Mirion also provides analysis and monitoring equipment, sensing systems, dosimetry and radiation therapy quality assurance platforms. The company posted a pro forma adjusted revenue of about $650 million in fiscal year 2020.
Lazard and HSBC served as financial advisers to Charterhouse and Mirion. Davis Polk & Wardwell acted as Mirion’s legal adviser, while Freshfields Bruckhaus Deringer advised Charterhouse on the transaction’s legal aspect.
Goldman Sachs & Co. served as lead placement agent and exclusive financial adviser to GSAH. Weil, Gotshal & Manges was GSAH’s legal counsel.