Bullish indicating open at $55-$60, IPO prices at $37
ATLANTA - Radiation detection and monitoring solutions provider Mirion Technologies (NYSE:MIR), whose stock has surged over 115% in the past year according to InvestingPro data, announced Thursday the acquisition of Certrec, a regulatory compliance and digital integration solutions supplier for the energy industry, for $81 million in cash plus equity incentives.
The acquisition represents a 16.9x EV/2025E EBITDA multiple for Certrec, which provides services to every U.S. nuclear reactor facility and over 80 entities across North America. Mirion’s strong liquidity position, with a current ratio of 2.23, supports this strategic investment.
Fort Worth, Texas-based Certrec specializes in helping power-generating facilities manage regulatory compliance with the Nuclear Regulatory Commission and North American Electric Reliability Corporation. The company offers expertise in licensing, regulatory affairs, compliance, training, and operations for nuclear, fossil, solar, and wind facilities.
"The Certrec team brings deep industry relationships and significant software and services capabilities to Mirion that will be pivotal in expanding our offerings in the nuclear power market and further strengthen the development of our digital ecosystem," said Thomas Logan, Mirion’s Chairman and Chief Executive Officer, in a press release statement.
Certrec will join Mirion’s Nuclear & Safety group. The company is ISO/IEC 27001:2022 certified and has completed annual SOC 2 Type 2 examinations.
Mirion, headquartered in Atlanta, provides radiation detection, measurement, analysis, and monitoring solutions to nuclear, medical, defense, and research markets. The $4.76 billion market cap company employs approximately 2,800 people across 12 countries and has achieved 7.25% revenue growth in the past year. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Mirion Technologies reported second-quarter results that surpassed analyst expectations. The company announced adjusted earnings per share of $0.11, exceeding the analyst estimate of $0.10. Revenue increased by 7.6% year-over-year to $222.9 million, surpassing the consensus estimate of $217.04 million. Additionally, Mirion Technologies achieved a GAAP net income of $8.5 million, marking a 171% improvement from a GAAP net loss of $12.0 million in the same period last year. Despite these positive results, the company experienced a decline in share value, which may be attributed to concerns about revised organic growth guidance. Investors are likely paying close attention to these developments. The company’s performance metrics, including earnings and revenue, are crucial for stakeholders. These recent results highlight Mirion Technologies’ financial trajectory and investor sentiment.
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