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BWXT Selling Medical Business to Nordic Capital in Transaction Valued at up to $800 Million

BWXT
  • BWX Technologies (BWXT) signed a definitive agreement to sell its medical business to Nordic Capital for up to $800 million.
  • The transaction includes BWXT Medical & Kinectrics' stable medical isotopes business.
  • BWXT will retain a minority ownership stake in the new entity while continuing to provide specialized isotope & radiochemical expertise.
  • The sale allows BWXT to focus resources on its core nuclear national security & commercial nuclear power markets.
  • Under Nordic Capital, the medical business aims to scale, expand capabilities, & advance in radiopharmaceuticals for diagnostic imaging & radiotherapeutic treatments.
  • BWXT tripled revenue, improved profitability, & expanded the product portfolio since acquiring the medical business in 2018.
  • Christian Hedegaard of Nordic Capital highlighted the potential to scale the business at the intersection of pharmaceuticals & life sciences.
  • The deal is subject to regulatory approvals & is expected to close by the end of 2026.
  • Solomon Partners served as exclusive financial advisor to BWXT, with Stikeman Elliott as legal counsel; Kirkland & Ellis LLP & McCarthy Tétrault advised Nordic Capital.
  • BWXT operates 19 manufacturing facilities globally with 14 strategic partnerships supporting U.S. & Canadian governments.