M&A Deal Summary

Charterhouse Capital Partners and Ardian Acquire Mirion

On April 8, 2015, private equity firms Charterhouse Capital Partners and Ardian acquired test/measurement equipment company Mirion from American Capital for 750M USD

Acquisition Highlights
  • This is Charterhouse Capital Partners’ 2nd and Ardian’s 3rd transaction in the Test/Measurement Equipment sector.
  • This is Charterhouse Capital Partners’ 14th and Ardian’s 41st largest (disclosed) transaction.
  • This is Charterhouse Capital Partners’ 2nd and Ardian’s 29th transaction in the United States.
  • This is Charterhouse Capital Partners’ 1st and Ardian’s 4th transaction in Georgia.
Investment Fate
  • Mirion was sold to a consortium of financial buyers in 2021.

M&A Deal Summary
Date 2015-04-08
Target Mirion
Sector Test/Measurement Equipment
Buyer(s) Charterhouse Capital Partners
Ardian
Sellers(s) American Capital
Deal Type Secondary Buyout
Deal Value 750M USD

Target

Mirion

Atlanta, Georgia, United States
website
Mirion is a provider of radiation detection, measurement, analysis, and monitoring products and services to the nuclear power, medical, military, and homeland security markets. Mirion Technologies was founded in 2005 and is based in Atlanta, Georgia.

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Buyer(S) 2

Buyer

Charterhouse Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1934
PE ASSETS 4.1B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Charterhouse Capital Partners is a large private equity firm specializing in buyouts of European industrial and commercial service companies. The Firm primarily seeks opportunities in Western Europe and the UK. Charterhouse focuses on profitable companies led by experienced management valued from €200 million to €1.5 billion. Specific areas of interest include business services, chemicals, engineering, leisure, transport and logistics. Charterhouse Capital Partners was formed in 1934 and is based in London.

DEAL STATS #
Overall 30 of 49
Sector (Test/Measurement Equipment) 2 of 2
Type (Secondary Buyout) 20 of 27
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2015) 1 of 3
Size (of disclosed) 14 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 TDF

Montrouge, France

TDF engages in the operation and provision of audiovisual, mobile phone, and broadband services to radio and television operators, telecoms operators, and local communities in Europe. It also involves in the video shooting; analog/digital television and radio broadcasting; and the deployment, maintenance, and management of telecom networks. TDF was founded in 1975 and is based in Montrouge, France.

Sell €3.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-15 Environmental Resources Management

London, United Kingdom

Environmental Resources Management (ERM) is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management (ERM) was founded in 1871 and is based in London, United Kingdom.

Sell $1.7B
Buyer

Ardian

Paris, France

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 125.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ardian is a mega-sized diversified investment group focused on opportunities worldwide. Ardian invests across and manages funds focused on small and mid-sized buyouts, growth capital financings, mezzanine, infrastructure, real estate, and co-investment opportunities. Ardian's small-buyouts group targets controlling interests in French, German, and Italian businesses valued up to €100 million. It's mid-sized buyout group seeks businesses valued up €1.5 billion and does not have any geographic limitations. The Infrastructure team looks for European opportunities and can commit up to €150 million per transaction. The Mezzanine group supports junior capital commitments of €5 to €80 million. In addition to direct investing, Ardian also manages various private equity fund-of-funds. Ardian was founded in 1996 and is based in Paris.

DEAL STATS #
Overall 231 of 416
Sector (Test/Measurement Equipment) 3 of 3
Type (Secondary Buyout) 69 of 135
State (Georgia) 4 of 7
Country (United States) 29 of 58
Year (2015) 5 of 25
Size (of disclosed) 41 of 67
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 TDF

Montrouge, France

TDF engages in the operation and provision of audiovisual, mobile phone, and broadband services to radio and television operators, telecoms operators, and local communities in Europe. It also involves in the video shooting; analog/digital television and radio broadcasting; and the deployment, maintenance, and management of telecom networks. TDF was founded in 1975 and is based in Montrouge, France.

Sell €3.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-09 SERMA Group

Cedex, France

SERMA GROUP offers an independent, international one-stop-shop for services in electronics. Specialized in electronic technologies for high stress environment, the group has developed around its culture of technical excellence and its in-house network of experts. Throughout the electronics life cycle, SERMA GROUP provides global offers around 4 major themes. Technologies and process (analysis, test and expertise) - System security (consulting and rating “CESTI”, certified ANSSI) - Embedded system engineering (design, development, qualification, production and maintenance) - Microelectronics (design and industrialization of embedded systems, thick layer ceramic, ceramic assembly) 900 engineers and technicians are the strength of the Group operating with 10 industrial sites in France and Germany to serve its clients: aeronautics, automotive and transport, industry, space, energy and medical.

Buy -

Seller(S) 1

SELLER

American Capital

website

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 165 of 194
Sector (Test/Measurement Equipment) 2 of 3
Type (Secondary Buyout) 57 of 71
State (Georgia) 9 of 10
Country (United States) 160 of 186
Year (2015) 2 of 8
Size (of disclosed) 5 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-01 Dynata

Shelton, Connecticut, United States

Dynata is a global provider of data solutions and technology for consumer and B2B survey research. Dynata reaches participants in 90+ sample countries via internet, telephone, mobile/wireless and mixed-access offerings. Dynata is based in Shelton, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-08 Unison

Dulles, Virginia, United States

Unison is a provider of purpose-built procurement and contract management software solutions to U.S. federal government agencies and government contractors. All software development and support are done within the USA. For over 30 years, Unison has continually advanced software and insight solutions to help Federal programs efficiently achieve their missions. Unison was founded in 1983 and is based in Dulles, Virginia.

Buy -
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