M&A Deal Summary

Thomas H. Lee Partners Acquires Agiliti

On December 20, 2018, private equity firm Thomas H. Lee Partners acquired medical products company Agiliti from Irving Place Capital

Acquisition Highlights
  • This is Thomas H. Lee Partners’ 1st transaction in the Medical Products sector.
  • This is Thomas H. Lee Partners’ 56th transaction in the United States.
  • This is Thomas H. Lee Partners’ 3rd transaction in Minnesota.
Investment Fate
  • Agiliti went public in 2021.
  • Agiliti was sold to a financial buyer in 2024 for 2.5B USD.

M&A Deal Summary
Date 2018-12-20
Target Agiliti
Sector Medical Products
Buyer(s) Thomas H. Lee Partners
Sellers(s) Irving Place Capital
Deal Type Secondary Buyout
Advisor(s) J.P. Morgan Securities (Financial)
Weil Gotshal & Manges (Legal)

Target

Agiliti

Minneapolis, Minnesota, United States
website
Agiliti is an essential service provider to the U.S. healthcare industry with solutions that help support a more efficient, safe, and sustainable healthcare delivery system. The company serves over 10,000 national, regional, and local acute care and alternate site providers across the U.S. It delivers medical equipment management and service solutions that help healthcare providers reduce costs, increase operating efficiencies, and support optimal patient outcomes. Agiliti was formed in 1939 and is based in Eden Prairie, Minnesota.

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Buyer(S) 1

Buyer

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1974
PE ASSETS 25.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners, LP (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. Thomas H. Lee Partners, LP was formed in 1974 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 66 of 83
Sector (Medical Products) 1 of 2
Type (Secondary Buyout) 21 of 30
State (Minnesota) 3 of 4
Country (United States) 56 of 71
Year (2018) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 Dun & Bradstreet

Jacksonville, Florida, United States

Dun & Bradstreet is a global provider of business information, analytics, and data intelligence solutions. Leveraging a database of company information, credit data, and analytics, Dun & Bradstreet offers a comprehensive suite of products and services designed to help clients identify growth opportunities, enhance supply chain management, and mitigate financial and operational risks. Dun & Bradstreet was formed in 1841 and is based in Jacksonville, Florida.

Buy $6.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-27 Fortna

Atlanta, Georgia, United States

Fortna is a provider of global automation and engineering services that designs, develops, and delivers powerful automated and intelligent software solutions that optimize performance, address disruption, and increase profitability. Fortna was founded in 1946 and is based in Atlanta, Georgia.

Buy -

Seller(S) 1

SELLER

Irving Place Capital

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 4.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Irving Place Capital (formerly Bear Stearns Merchant Banking) is an independent private equity firm focused on making investments in middle-market companies located in North America and Western Europe. Irving primarily looks for opportunities in the retail, financial services, consumer products and packaging sectors, but will also consider investments in other traditional and service based businesses such as restaurants, transportation/logistics, healthcare, energy, and industrial products/services. The Firm's target investment size is $50 to $250 million of equity capital and EBITDA in excess of $7 million. Prospective transaction situations include traditional management buyouts, growth capital financings, divestitures, consolidations, and recapitalizations. Irving Place is based in New York City.

DEAL STATS #
Overall 35 of 39
Sector (Medical Products) 2 of 2
Type (Secondary Buyout) 11 of 13
State (Minnesota) 1 of 1
Country (United States) 28 of 32
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-13 Pet Supplies Plus

Livonia, Michigan, United States

Pet Supplies Plus is a pet specialty retailer in the United States by total system sales, providing a wide variety of pet food, treats, hard goods and services for dogs, cats, and small animals. Pet Supplies Plus was founded in 1988 and is based in Livonia, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 OTC Industrial Technologies

Columbus, Ohio, United States

OTC Industrial Technologies is an industrial equipment service provider and distributor of highly engineered products including motion control, pumps, finishing products, robotics, motors and air compressors. OTC serves over 13,000 customers across diverse end-markets, providing highly technical sales consultation and aftermarket repair and services. OTC Industrial Technologies was founded in 1963 and is based in Columbus, Ohio.

Sell -
Mergr

Product

Company

Legal