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Mirion Technologies announces completion of business combination with GS Acquisition Holdings Corp II

Press releases may be edited for formatting or style | October 22, 2021 Business Affairs
ATLANTA--(BUSINESS WIRE)--Mirion Technologies, Inc. (“Mirion”), a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets, today announced that it has closed its previously announced business combination with GS Acquisition Holdings Corp II (“GSAH”).

Upon completion of the transaction, which was approved by GSAH stockholders on October 19, 2021, GSAH changed its name to “Mirion Technologies, Inc.” Mirion’s Class A common stock and warrants are expected to begin to trade on the New York Stock Exchange (“NYSE”) on October 21, 2021, under the ticker symbols “MIR” and “MIRW”, respectively.

Thomas Logan, Chief Executive Officer of Mirion, commented, “Today marks a significant milestone for Mirion, as the capital raised through this transaction, paired with our new access to the public markets, will enable us to drive both organic and inorganic growth and execute on our product innovation strategy as we continue to expand globally. We look forward to driving long-term shareholder value by delivering leading detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets.”

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Tom Knott, Chief Executive Officer of GSAH, added, “We are very pleased to have closed our business combination with Mirion, which we believe to be a market-leading business with a-cyclical exposures, attractive organic growth, a demonstrable history of success integrating bolt-on M&A, and an experienced management team prepared to deliver long-term, sustainable returns to shareholders.”

Prior to the closing of the business combination, Mirion was majority owned by Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, which first invested in Mirion in 2015.

Chris Warren, Partner at Charterhouse, remarked, “Mirion’s robust growth in recent years is a testament to the dedication of the whole Mirion team. Having become the global leader in nuclear measurement, and following its strategic expansion into medical and life sciences, Mirion is well positioned to capitalise on a wide range of additional growth opportunities. We look forward to seeing Mirion’s continued development and further accomplishments in years to come and wish Tom and his team the best of luck.”

The transaction raised approximately $604 million from GSAH trust proceeds, $900 million from a fully committed common stock private placement (PIPE) and $830 million from a senior secured term loan financing. The foregoing reflects the fact that holders of approximately 5 million shares reversed their redemption status, increasing the GSAH trust proceeds expected to be available for the business combination by approximately $50 million since October 15, 2021. A portion of the proceeds will be used to pay $1.3 billion to existing Mirion stockholders, to refinance approximately $909 million of existing Mirion third-party debt and to pay certain transaction expenses.


About Mirion
Mirion Technologies is a leading provider of detection, measurement, analysis and monitoring solutions to the nuclear, defense, medical and research end markets. The organization aims to harness its unrivaled knowledge of ionizing radiation for the greater good of humanity. Many of the company's end markets are characterized by the need to meet rigorous regulatory standards, design qualifications and operating requirements. Headquartered in Atlanta (GA – USA), Mirion employs around 2,500 people and operates in 13 countries. Prior to the closing of the business combination, Mirion was majority owned by Charterhouse Capital Partners LLP.


About GSAH
GS Acquisition Holdings Corp II (NYSE: GSAH) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses. The company is sponsored by an affiliate of The Goldman Sachs Group, Inc. In June 2020, GSAH completed its initial public offering, raising $750 million from investors.

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