5th Century Partners Exits Radon Medical Imaging with Sale to Leonard Green

Transaction reflects the successful execution of 5CP's value creation strategy and positions Radon for next phase of growth

CHICAGO, Oct. 27, 2026 /PRNewswire/ -- 5th Century Partners ("5CP"), a purpose-driven private investment firm that partners with healthcare and business services companies that have outsized growth potential, today announced the completion of the sale of its portfolio company Radon Medical Imaging ("Radon") to Leonard Green & Partners, L.P. ("LGP" or "Leonard Green"). Terms of the transaction were not disclosed.

Headquartered in Charleston, West Virginia, Radon is a leading medical imaging equipment maintenance and repair services company with an established presence across the Midwest, Mid-Atlantic and Southeast. The company is known for its diversified solutions, strong technical expertise and best-in-class customer service. Its customers include major hospital systems, clinics, specialist and primary care offices, emergency rooms and outpatient institutions.  

"Radon represents exactly the type of partnership and value creation strategy that 5CP was built to pursue," said Marques Torbert, co-founder and managing partner of 5th Century Partners. "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 5^th Century Partners added, "We are incredibly proud of what the team has accomplished over the past four years and believe Radon is well-positioned for continued growth and success."

Since partnering with 5th Century Partners in 2022, Radon has evolved from a regional service organization into a scaled multi-state platform while maintaining its reputation for technical excellence and customer service. During 5CP's investment period, the company more than tripled revenue, expanded from five states to 26 states and grew its workforce to more than 220 employees, including over 135 highly trained field service technicians and engineers.

Radon's growth was supported by several strategic acquisitions, including Premier Imaging Medical Systems in 2022, Tristate Biomedical Solutions in 2023, Alpha Imaging in 2024 and Majestic Medical Solutions in 2025.

"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," said Andy Border, Founder and Executive Chairman at Radon. David Wilson, CEO at Radon commented, "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."

Houlihan Lokey served as financial advisor and DLA Piper served as legal advisor to Radon on the transaction.

About 5th Century Partners
5th Century Partners is a purpose-driven private investment firm that invests in lower middle-market companies within healthcare and business services that have outsized growth potential. The firm provides capital, operating expertise and strategic relationships that lead to sustainable growth, which in turn allows partner companies to realize their full potential and deliver positive outcomes to their stakeholders. Learn more at www.5cpartners.com.

About Radon
Radon Medical Imaging is a leading independent service organization that services, assembles, repairs, and sells new and refurbished medical imaging equipment including, but not limited to: MRI, PET/CT, fluoroscopy, mammography, cardiac cath lab, urology, digital DR and CR, C-arm, general radiographic (X-Ray) and select PACS systems. Radon Medical Imaging was founded in 1976 and is headquartered in Charleston, West Virginia, with additional corporate offices and 150,000+ square feet of warehouse space in Georgia, Louisiana, Ohio, South Carolina, and West Virginia. The company has more than 220 employees across 26 states and covers a service, asset management and sales region encompassing parts of the Midwest, the Mid-Atlantic and southeastern regions of the U.S.

About LGP
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $75 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has completed over 160 investments in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on services, including consumer, healthcare, and business services, as well as distribution and industrials. For more information, please visit www.leonardgreen.com. 

SOURCE 5th Century Partners