CHICAGO – October 28, 2026 -- 5th Century Partners (5CP) has sold Radon Medical Imaging to Leonard Green & Partners after Radon more than tripled revenue and grew from five states to 26 during the four-year hold. The parties did not disclose financial terms.
Radon scaled from a regional servicer to a 26-state platform under 5CP
5CP invested in Radon in 2022. Radon now employs more than 220 people, including over 135 field service technicians and engineers. The Charleston, West Virginia-based company services, repairs, assembles and sells new and refurbished imaging equipment, including MRI, PET/CT, mammography, cardiac cath lab and C-arm systems.
Its customers include major hospital systems, clinics, primary and specialist care offices, emergency rooms and outpatient institutions. Radon operates across the Midwest, Mid-Atlantic and Southeast, with offices and more than 150,000 square feet of warehouse space in Georgia, Louisiana, Ohio, South Carolina and West Virginia.
Four add-on acquisitions between 2022 and 2025 drove the expansion
Radon bought Premier Imaging Medical Systems in 2022, Tristate Biomedical Solutions in 2023, Alpha Imaging in 2024 and Majestic Medical Solutions in 2025. Radon CEO David Wilson said 5CP's support allowed the company to expand capabilities, enter new markets and complete these deals.
5CP co-founder and managing partner Marques Torbert said the exit reflects "the execution of a disciplined growth strategy." Co-founder and managing partner Bruce Hampton said Radon is well positioned for continued growth.
Leonard Green, with more than $75 billion under management, takes over
Los Angeles-based Leonard Green was founded in 1989 and has completed more than 160 investments. It focuses on services, including consumer, healthcare and business services, as well as distribution and industrials. Radon Founder and Executive Chairman Andy Border said the company has kept its customer-first culture for nearly five decades.
Houlihan Lokey served as financial advisor and DLA Piper as legal advisor to Radon on the transaction.