The acquisition strengthens Mirion’s position across nuclear power facilities and supports commitment to safely meeting rising global energy demand.
Mirion, a global provider of radiation detection, measurement, analysis, and monitoring solutions to the nuclear, medical, defense, and research end markets, today announced the acquisition of Certrec, a leading supplier of regulatory compliance and digital integration solutions for the energy industry.
Operating out of Fort Worth, TX, Certrec solutions help ensure a stable and reliable bulk electric supply.
Since 1988, Certrec’s innovation and industry expertise has helped hundreds of power-generating facilities reduce risk and manage regulatory compliance with the Nuclear Regulatory Commission (NRC) and North American Electric Reliability Corporation (NERC). Areas of expertise include licensing, regulatory affairs, compliance, training, and operations, in support of nuclear, fossil, solar, wind facilities, and other types of generating assets. Today, every US nuclear reactor facility employs Certrec solutions, and more than 80 entities in the U.S., Canada and Mexico rely upon Certrec NERC compliance services to decrease regulatory and reputational risk.
“I am delighted to welcome Certrec to the Mirion family,” said Thomas Logan, Mirion’s Chairman and Chief Executive Officer. “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.”
Certrec, joining the Mirion Nuclear & Safety group, is ISO/IEC 27001:2022 certified and has successfully completed annual SOC 2 Type 2 examinations.
The cash purchase price of $81 million plus additional equity incentives granted reflects an acquisition multiple of 16.9x EV/’25E EBITDA for a high-recurring revenue software and services business.
For more information about Certrec, please visit certrec.com.
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