Astorg Partners agrees Areva nuclear measurement business purchase


nuclear-radioactiveParis-based private equity firm Astorg Partners has agreed to buy the nuclear radiation measurement unit of French nuclear reactor maker Areva.

Astorg had entered exclusive negotiations to buy the unit, Canberra, six months ago as part of Areva’s strategic plan to pay down debt.

The firm’s offer valued Canberra at between €310m and €350m according to Reuters, which cited sources close to the deal in October.

Canberra, which employs more than 1,000 people, had sales of about €250m last year.

It provides nuclear measurement services for personnel safety, facility assessment and safeguarding the public and environment.

Astorg, which has more than €2bn under management, generally targets industrial or service companies.

It claims to have a 30 per cent IRR across 20 exits since it was founded in 1998.

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