A consortium of private equity groups, including Black stone Carlyle has reached an agreement to acquire the medical supply group Medline for approximately $ 34 billion, including debt. This is the biggest buyout of the year.
The deal, announced by Medline on Saturday, is the largest buyout involving private equity investor clubs since the 2007 financial crisis. This is one of the largest private equity transactions in history, following the $ 44 billion acquisition of US energy group TXU Corporation in 2007.
Blackstone, which is also affiliated with Hellman & Friedman in the deal, has defeated Bain Capital and CVC’s involvement and another consortium of buyout groups led by Brookfield.
Founded in 1966 by Jim and John Mills, Medline is one of the largest manufacturers of medical supplies. The family-owned business is currently run by Charles Mills.
Medline said the Mills family would continue to operate after the deal, with the Mills family being the largest shareholder.
In 2018, Blackstone agreed on the largest deal since the financial crisis, raising $ 17.3 billion to take control of Thomson Reuters’ financial terminal and data business. The Canadian Pension Plan Investment Board and Singapore State Fund GIC helped finance this transaction.
Club trading was as popular as they allowed in the years prior to the financial crisis. Private equity group Be exposed to larger transactions. After the crisis, they suddenly came to an end due to the depletion of credit, but they are gaining momentum these days.
Private Equity Group Agres to Acquire Medline for $ 34 Billion
Source link Private Equity Group Agres to Acquire Medline for $ 34 Billion