3i Infrastructure plc agreed to invest EUR 220 million (US$ 244.72 million) to acquire up to 100% of Ionisos, a leading owner and operator of cold sterilization facilities servicing the medical, pharmaceutical and cosmetics industries, from Ardian Expansion.

Established in 1993 in Civrieux, France, Ionisos is the third-largest cold sterilization provider globally and operates a network of 11 facilities in Europe with market-leading positions in France and Spain. It has over 200 employees and a highly diversified customer base of more than 1,000 customers. Ionisos delivers a mission-critical service for the medical, pharmaceutical and cosmetics industries for whom cold sterilization is an essential component of the manufacturing process. It is typically applied to single-use products that would be damaged by the heat and/or humidity of hot sterilization methods.

Demand for sterilization is driven by attractive market fundamentals and non-cyclical market factors, including an aging population in Western Europe, growing demand for medical services increasingly relying on single-use products, and increasingly stringent regulation governing the sterilization of medical, pharmaceutical and cosmetics products.

3i Infrastructure plc is a closed-ended investment company. It is a long-term investor in infrastructure businesses and assets. Its market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.