Overview

Ionisos is a leading owner and operator of cold sterilisation facilities servicing the medical, pharmaceutical and cosmetics industries. Established in 1993 in Civrieux, France, Ionisos is the third largest cold sterilisation provider globally and operates a network of 11 facilities in Europe with market leading positions in France and Spain. It has over 200 employees and a highly diversified customer base of more than 1,000 customers.

Ionisos delivers a mission-critical, non-discretionary service for the medical, pharmaceutical and cosmetics industries for whom cold sterilisation is an essential component of the manufacturing process. It is typically applied to single use products that would be damaged by the heat and/or humidity of hot sterilisation methods.

Investment Rationale

3i Infrastructure acquired Ionisos in September 2019, having committed to invest in July 2019.

• Diversification of 3i Infrastructure’s sector exposure and increased presence in the French market
• Sound market fundamentals with non-cyclical drivers, including an ageing population in Western Europe
• Growing demand for healthcare services increasingly relying on single use medical equipment
• Increasingly stringent regulation governing the sterilisation of medical, pharmaceutical and cosmetics products
• High barriers to entry
• Platform potential with growth opportunities organically and through M&A