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3i Infrastructure said it had agreed to invest about €220m to acquire an up to a 100% stake in Ionisos from Ardian Expansion.
Ionisos, an owner and operator of cold sterilisation facilities servicing the medical, pharmaceutical and cosmetics industries, was established in 1993 in Civrieux, France, and is the third largest cold sterilisation provider globally, the company said.
The deal was expected to be completed in September.
'Ionisos represents a great opportunity for 3i Infrastructure to diversify its sector exposure and increase its presence in the French market. It is a resilient business providing essential infrastructure to sectors with attractive long-term fundamentals,' said Richard Laing, Chair of 3i Infrastructure.