Completion of the Sale of Canberra to Mirion
As previously disclosed by AREVA in December 2015, Mirion was selected by AREVA after completion of a competitive process. AREVA and Mirion subsequently entered into a Share Purchase Agreement to acquire the entire share capital of Canberra.
"We are excited by the combination of Mirion and Canberra, as it creates a premier supplier of radiation safety solutions for the nuclear, defense and medical industries," said Thomas D. Logan, Mirion’s Chairman and Chief Executive Officer. "Canberra has a long track record in the industry and its brand is synonymous with innovative, high quality solutions. With the support of the Canberra management team, we have already made substantial progress with our integration plans and we are confident we will achieve our goals. We have worked well with the AREVA team to achieve a smooth transition for Canberra employees, who are highly skilled and bring exceptional experience and know-how."
"The sale of Canberra to Mirion is in line with our previously announced restructuring plan and our strategic roadmap released in June," said Philippe Knoche, AREVA’s Chief Executive Officer. "Mirion was chosen by AREVA in part because of its long history as a reliable supplier to the nuclear industry, its track record of creating and maintaining highly skilled jobs in France and its strong financial backing. The timely closing of this transaction is a testament to our commitment to pursuing AREVA’s transformation. I sincerely wish a great success to Mirion and Canberra."
"The combination of Canberra and Mirion is a natural fit," said Jean-Bernard Koehl, Canberra’s Chief Executive Officer. "Our businesses are highly complementary and allow us to combine our respective strengths in different industries, geographies and technologies. Our management team is excited to join with our counterparts at Mirion to achieve our shared objectives. This is an exciting day for Canberra employees, who share Mirion’s commitment to innovation, quality and customer focus."
"We are pleased to support Mirion’s management team with such a significant and transformational transaction just one year into our tenure together," said Pierre de Sarrau, Partner at Charterhouse Capital Partners LLP, which completed its acquisition of Mirion in March 2015. "Mirion’s acquisition of Canberra brings together two of the most respected and experienced industry players and provides the ability to offer comprehensive and compelling solutions for the combined global customer base."
Mirion Technologies is a global provider of radiation detection, measurement, and monitoring products and services to the nuclear, defense, and medical industries. Mirion has facilities in Europe, Asia, and North America. Mirion Technologies is headquartered in the San Francisco Bay area and is a portfolio company of Charterhouse Capital Partners LLP. For additional information, please visit: www.mirion.com
ABOUT CHARTERHOUSE CAPITAL PARTNERS LLP
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. Charterhouse pursues a highly selective investment approach, partnering with a small number of high-quality companies. Transaction values range from €250mn to €2bn. Charterhouse is based in London and has a deep bench of experienced investment professionals, with an average partner tenure of 13 years. Since inception Charterhouse has completed over 140 transactions worth an aggregate value of over €50bn. For additional information, please visit: www.charterhouse.co.uk
AREVA supplies high added-value products and services to support the operation of the global nuclear fleet. The company is present throughout the entire nuclear cycle, from uranium mining to used fuel recycling, including nuclear reactor design and operating services. AREVA is recognized by utilities around the world for its expertise, its skills in cutting-edge technologies and its dedication to the highest level of safety. AREVA's 40,000 employees are helping build tomorrow's energy model: supplying ever safer, cleaner and more economical energy to the greatest number of people. For additional information, please visit: www.areva.com