Sterigenics International Closes Acquisition Of Food Technology Service
3/7/2014 9:09:27 AM
DEERFIELD, IL/MULBERRY, FL – March 6, 2014 – Sterigenics International, a leading global provider of outsourced contract sterilization services and a portfolio company of GTCR, LLC, today announced it has closed the acquisition of Food Technology Service, Inc. (NASDAQ: VIFL).
Food Technology Service, Inc. owns and operates an irradiation facility located in Mulberry, Florida that uses gamma radiation to provide contract sterilization services to the medical device, packaging and food industries.
Headquartered in Deerfield, Illinois, Sterigenics operates out of 39 facilities across the Americas, Europe and Asia and is a global leader in outsourced contract sterilization services, primarily to the medical device, pharmaceutical, food safety and high performance/specialty materials industries. As a result of its global service capabilities, and the proprietary Sterigenics GPS™ platform that allows real time order tracking and just in time supply chain operation, it counts numerous Fortune 500 companies as clients, with relationships exceeding two decades.
“We look forward to a seamless transition going forward and are pleased that this teaming will mean better service to our clients, and ultimately, the consumer that we are protecting,” said Michael Mulhern, CEO of Sterigenics.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $10 billion in over 200 companies. For more information, please visit www.gtcr.com.
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