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Mirion Technologies has launched the Orion Real-Time Location System (RTLS), enhancing asset and worker safety by providing precise location data in nuclear and industrial settings. This technology integrates radiological monitoring with location tracking to streamline operations and reduce costs associated with lost equipment. The Orion RTLS includes hardware components like the Orion Anchor and Asset Tags, coupled with user-friendly Orion Studio Software. Additionally, Mirion is set to complete its merger with GS Acquisition Holdings Corp II (NYSE: GSAH) in H2 2021, pending regulatory approvals.
Mirion Technologies reported fiscal 2021 GAAP revenue of $612 million, a 27.9% increase year-over-year, while pro-forma adjusted revenue rose 5.4% to $686 million. The company faced a net loss of $(158) million, primarily due to $122 million in non-cash interest expenses. Pro-forma adjusted EBITDA reached $173 million, an 18.4% growth, with margins up by 280 basis points to 25.2%. Mirion reiterated its 2022 guidance, projecting adjusted revenue of $723 million and EBITDA of $179 million. The anticipated merger with GSAH Corp II is set to close in Q4 2021.
Mirion Technologies, Inc. announced a significant milestone in its proposed business combination with GS Acquisition Holdings Corp II (GSAH) by delivering the first batch of 880 AccuRad Personal Radiation Detectors (PRDs) under a $121 million contract with the Department of Homeland Security. This contract aims to support the Securing the Cities initiative. Mirion expects to provide a total of 4,001 units in the first year. The company emphasizes the importance of its technology in enhancing safety for emergency responders facing radiological threats.
Mirion Technologies, a leading firm in detection and monitoring solutions, will present at the Raymond James Diversified Industrials Conference on August 25 at 11:00 am ET. A webcast will be accessible HERE. Additionally, Mirion has a business combination agreement with GS Acquisition Holdings Corp (NYSE: GSAH), a SPAC, which aims to make Mirion a publicly listed company.
Mirion Technologies has launched Lab-Pulse Services, a new Internet of Things solution aimed at enhancing the operational efficiency of High Purity Germanium systems. This service allows remote monitoring of instrument data, providing users with alarm notifications, monthly summaries, and a status dashboard. CEO Thomas Logan highlighted its role in the company's digital transformation strategy. Additionally, Mirion is expected to finalize its merger with GS Acquisition Holdings Corp II (GSAH) in the latter half of 2021, marking a significant step in its growth prospects.
Mirion Technologies, a portfolio company of Charterhouse Capital Partners, will present at the Jefferies Industrials Conference on August 3 at 1:00 PM ET. A webcast of the event is available HERE.
Mirion has a merger agreement with GS Acquisition Holdings Corp (NYSE: GSAH), a SPAC, aiming for public listing. GSAH raised $750 million in its IPO.
Mirion Technologies, a provider of radiation detection solutions, will go public via a merger with GS Acquisition Holdings Corp II (GSAH). This transaction, set to close in late 2021, values Mirion at approximately $2.6 billion, with a pro forma Adjusted EBITDA of around $192 million. Mirion generated about $650 million in pro forma Adjusted Revenue in 2020. Following the merger, its shares will trade under NYSE: MIR. The partnership with Larry Kingsley aims to leverage market growth potential while allowing for strategic acquisitions.
