MIR - Mirion Technologies to benefit from $150M investment from T. Rowe Price

• Mirion Technologies ( NYSE: MIR ) received $150M investment from funds and accounts advised by T. Rowe Price ( TROW ) Investment Management through the acquisition of 17.1M Mirion shares at $8.75/share.
• The transaction is expected to close on Feb.23, 2023.
• The company plans to use ~$125M to pay down debt, with a target net leverage ratio of ~3.1x by 2023 end exclusive of any potential M&A; remaining $25M are expected to be used to fund organic and inorganic growth opportunities.
• Based on the above investment, the company is increasing its adj. free cash flow guidance for 2023 to a range of $58 – $78M.

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