The acquisition follows four years of growth for the imaging equipment service provider, which now employs more than 135 field service technicians and engineers.
5th Century Partners (5CP) has sold its portfolio company Radon Medical Imaging to Leonard Green & Partners, marking an exit from the medical imaging equipment maintenance and repair services provider after a four-year investment period. Terms of the transaction were not disclosed.
Headquartered in Charleston, West Virginia, Radon services, assembles, repairs, and sells new and refurbished medical imaging equipment, including MRI, PET/CT, fluoroscopy, mammography, cardiac cath lab, urology, digital DR and CR, C-arm, general radiographic (X-ray), and select PACS systems. The independent service organization, founded in 1976, serves hospital systems, clinics, specialist and primary care offices, emergency rooms, and outpatient institutions across the Midwest, Mid-Atlantic, and Southeast.
Growth Under 5CP Ownership
Since partnering with 5CP in 2022, Radon more than tripled revenue, expanded from five states to 26 states, and grew its workforce to more than 220 employees, including over 135 field service technicians and engineers, according to a press release. The company now operates more than 150,000 square feet of warehouse space across Georgia, Louisiana, Ohio, South Carolina, and West Virginia.
Growth during the hold period was fueled in part by a string of strategic acquisitions, including Premier Imaging Medical Systems in 2022, Tristate Biomedical Solutions in 2023, Alpha Imaging in 2024, and Majestic Medical Solutions in 2025.
“Radon represents exactly the type of partnership and value creation strategy that 5CP was built to pursue,” says Marques Torbert, co-founder and managing partner of 5CP, in a release. “This transaction reflects the strength of Radon’s leadership team, the dedication of its employees, and the execution of a disciplined growth strategy.”
Bruce Hampton, co-founder and managing partner at 5th Century Partners, adds in a release that the firm is “incredibly proud of what the team has accomplished over the past four years” and believes Radon is positioned for continued growth under its new ownership.
Next Chapter Under Leonard Green
Radon’s leadership team framed the transaction as a continuation of the company’s scaling strategy while preserving its service-focused culture.
“5th Century Partners has been an invaluable partner in helping us scale the business while staying true to the culture and customer-first approach that have defined Radon for nearly five decades,” says Andy Border, founder and executive chairman at Radon, in a release.
David Wilson, CEO at Radon, adds in a release,”Their support enabled us to expand our capabilities, enter new markets, and complete strategic acquisitions that strengthened our platform. We are grateful for their partnership and excited to build on this momentum as we begin our next chapter with Leonard Green.”
Leonard Green & Partners, founded in 1989 and based in Los Angeles, manages more than $75 billion in assets and has completed over 160 investments since inception, with a focus on services sectors including healthcare, consumer, and business services.
Houlihan Lokey served as financial advisor and DLA Piper served as legal advisor to Radon on the transaction.
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