Nordic Capital has entered into a definitive agreement to acquire the medical business of BWX Technologies in a transaction valued at up to $800 million, according to a news release. BWX Technologies (NYSE: BWXT), based in Lynchburg, Virginia, is a manufacturing and engineering company that provides nuclear solutions for global security, clean energy, environmental restoration, nuclear medicine and space exploration. Nordic, founded in 1989 and with its U.S. office in New York, is a private equity firm that focuses on healthcare and several other sectors.

The transaction, which is expected to close by the end of 2026, includes BWXT Medical and Kinectrics’ stable medical isotopes business. BWXT will retain a minority ownership in the new company.