Ant Book

Main Menu

  • Home
  • Eu Fragmentation
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds
  • Finance

Ant Book

Header Banner

Ant Book

  • Home
  • Eu Fragmentation
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds
  • Finance
Private Equity Funds
Home›Private Equity Funds›Private equity group closes deal to buy Medline for more than $ 30 billion

Private equity group closes deal to buy Medline for more than $ 30 billion

By Joanne Monty
June 5, 2021
0
0



Medline is an unrecognized but major player in medical equipment, with some $ 17.5 billion in annual sales.


Photo:

Kristoffer Tripplaar / Sipa USA / Associated press

Updated June 5, 2021, 1:06 p.m. ET

A group of private equity firms including Blackstone Group Inc.

BX 0.95%

is on the cusp of a deal to acquire Medline Industries Inc. which would value the medical supply giant at more than $ 30 billion, in one of the largest debt buyouts since the financial crisis, people close to it say folder.

The deal could be done as early as this weekend assuming the talks don’t collapse, the people said. The Blackstone consortium includes Carlyle Group Inc.

CG 0.63%

and Hellman & Friedman LLC. They beat a competing bid from the private equity arm of Canadian investment giant Brookfield Asset Management Inc.,

BAM 0.12%

people said.

Including debt, the deal would be valued at around $ 34 billion, and north of $ 30 billion excluding borrowing, the people said. This could potentially make it the biggest LBO ever in healthcare.


Newsletter Sign-Up

Offers alert

Major news in the world of deals and deal-makers.


Based in Northfield, Illinois, the family-owned Medline is a little-known but major player in the medical equipment industry. It manufactures and distributes equipment and supplies used in hospitals, surgical centers, acute care and other medical facilities in more than 125 countries. It has an annual turnover of around $ 17.5 billion, according to its website.

Brothers James and Jon Mills founded the company in 1966 and went public in 1972. The brothers bought back the shares five years later. James’ son Charlie has been the CEO of Medline since 1997.

The family will remain the largest shareholder in the company after the takeover and the management team will remain in place, some people said.

Write to Cara Lombardo at [email protected] and Miriam Gottfried at [email protected]

Copyright © 2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8



Related posts:

  1. Two non-public fairness companies take management of the US software program firm Exactly in a $ 3.5 billion deal: supply
  2. Sanlam impression fund buys meat producer as a part of job creation marketing campaign
  3. Two personal fairness corporations take management of the US software program firm Exactly in a $ 3.5 billion deal: supply
  4. The COVID reset of the M&A market
Tagsprivate equity

Categories

  • Eu Fragmentation
  • Finance
  • Home Asset Bias
  • Money Market Accounts
  • Private Equity Funds

Recent Posts

  • rupee dollar: why the rupee is likely to fall further even as exports lose competitiveness
  • Doctors warned of pitfalls behind private equity pledges
  • Vincent Liu sells 3,000 shares of RBB Bancorp (NASDAQ: RBB)
  • Eurozone inflation rise ‘not likely to peak’ before 9.6% in September, analysts say
  • real estate investment: Are you looking to invest in SCPIs? Here are 3 factors to consider before investing
  • Terms and Conditions
  • Privacy Policy