AREVA (EPA: AREVA), the France-based global leader in nuclear energy with 2015 sales of $4.6 billion, has sold its wholly owned US subsidiary, Canberra Industries, the leading provider of innovative nuclear measurement solutions, to California-based Mirion Technologies, a global leader in radiation detection and protection, backed by private equity fund Charterhouse Capital.
Canberra Industries, based in Meriden, Connecticut, is a leader in the nuclear measurement sector. It designs, manufactures and markets innovative and cost-effective nuclear measurement solutions used to maintain safety of personnel, assess the health of nuclear facilities and safeguard the public and the environment. Canberra generated revenues of about $200 million in 2014 and has more than a thousand employees worldwide.
In this competitive process initiated by Areva in June 2015, Ohana & Co. acted as global advisor to Canberra’s management team, accompanying it throughout the entire process. Ohana & Co. assisted the management team on the structuring of its exit package, the preparation of the roadshow with the various bidders and the negotiation of equity investment packages with each of the bidders shortlisted by Areva.