[ RadSafe ] American Capital Merges Three Portfolio Companies - Creates Global Leader in Radiation Measurement & Protection
Sandy Perle
sandyfl at earthlink.net
Sat Jan 28 09:13:48 CST 2006
American Capital Merges Three Portfolio Companies
Creates Global Leader in Radiation Measurement & Protection
BETHESDA, Md., Jan. 25 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (Nasdaq: ACAS - News) announced today the formation
of Mirion Technologies Inc., through the merger of its U.S. portfolio
companies Global Dosimetry Solutions Inc. and Imaging and Sensing
Technology Corporation with its French portfolio company synOdys
Group SA. Tom Logan, the prior CEO of Global Dosimetry, will lead the
combined company as its CEO. No new financing is being provided as
part of this merger. American Capital investments in these companies
took the form of subordinated debt and preferred and common equity
and total $244 million. American Capital is the majority shareholder
and Company management owns a minority of the common equity.
"The merger of three highly profitable leaders in the radiation
measurement and protection industry creates a dominant global player
with leading positions in the nuclear power instrumentation, civil
and military defense, and health physics markets," said American
Capital Chief Operating Officer Ira Wagner. "This transaction is
emblematic of American Capital's success in building a franchise in
the middle market. With leadership provided by our New York
Investment Team headed by Robert Klein, our Business Development and
Marketing Team, Financial Analysis and Compliance Team (FACT), Legal
Department and Operations Team all contributed to building and
creating value in the formation of Mirion Technologies."
American Capital has invested approximately $3.2 billion in 2005,
approximately $1 billion in the fourth quarter 2005 and $77 million
year to date. These amounts do not include American Capital's
unfunded equity commitment to its affiliate European Capital. For
more information about American Capital's portfolio go to
http://www.acas.com/our_portfolio/our_portfolio.cfm.
"The establishment of Mirion Technologies is the next step in the
evolution of a market leader. The merger of these three companies
provides revenue diversification across customers, product lines, end
markets and geography. In addition, the merger positions the three
companies to take advantage of cross selling opportunities, create
cost savings through consolidation, and provides for the enhanced
sharing of best practices and research and development innovations,"
said American Capital Managing Director Robert Klein.
"We are excited to back management as they extend their leadership
positions in these dynamic markets, particularly as it relates to the
imminent buildout of Chinese nuclear capacity," added American
Capital Principal Todd Wilson.
"Mirion Technologies is well-positioned to extend its global
franchise, based upon the renaissance of the global nuclear power
industry, continued global demands for homeland security and defense
solutions, and increased utilization of radiological medical
applications," said Mirion Technologies Chairman and CEO Tom Logan.
"We expect to sustain our legacy of strong organic and acquisitive
growth as these markets continue to evolve."
In 2003, American Capital invested $49 million to acquire Global
Dosimetry Solutions, one of the world's largest providers of
radiation dosimetry services. In 2004, American Capital invested $45
million in the acquisition of Imaging and Sensing Technology
Corporation, a leading designer and assembler of equipment for use in
nuclear power plants, and $72 million in the acquisition of synOdys
Group SA, a leading manufacturer of systems and equipment to protect
people and goods from nuclear, biological and chemical risks. In
addition, American Capital has financed three add-on acquisitions
across the companies that now comprise Mirion Technologies.
American Capital investments in companies serving the nuclear power
industry also include PaR Nuclear Holding Company Inc., a leader in
the design, assembly, installation and service of large-scale, high-
precision robotic systems.
-------------------------------------
Sandy Perle
Senior Vice President, Technical Operations
Global Dosimetry Solutions, Inc.
2652 McGaw Avenue
Irvine, CA 92614
Tel: (949) 296-2306 / (888) 437-1714 Extension 2306
Fax:(949) 296-1144
E-Mail: sperle at dosimetry.com
E-Mail: sandyfl at earthlink.net
Global Dosimetry Website: http://www.dosimetry.com/
Personal Website: http://sandy-travels.com/
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