M&A Deal Summary

3M Acquires Acelity

On May 2, 2019, 3M acquired medical products company Acelity from Apax and CPP Investments for 6.7B USD

Acquisition Highlights
  • This is 3M’s 14th transaction in the Medical Products sector.
  • This is 3M’s largest (disclosed) transaction.
  • This is 3M’s 50th transaction in the United States.
  • This is 3M’s 3rd transaction in Texas.

M&A Deal Summary

Date 2019-05-02
Target Acelity
Sector Medical Products
Buyer(s) 3M
Sellers(s) Apax
CPP Investments
Deal Type Add-on Acquisition
Deal Value 6.7B USD

Target

Acelity

San Antonio, Texas, United States
Acelity is a wound care and regenerative medicine company created by uniting the strengths of three companies, Kinetic Concepts, Inc., LifeCell Corporation and Systagenix Wound Management, Limited. Acelity was formed in 1976 and is based in San Antonio, Texas.

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Buyer(S) 1

Buyer

3M

St. Paul, Minnesota, United States

Category Company
Founded 1902
Sector Diversified
Employees92,000
Revenue 32.7B USD (2023)
DESCRIPTION
Entrance to 3M's corporate campus in St. Paul, Minnesota.
Entrance to 3M's corporate campus in St. Paul, Minnesota.

3M is a diversified manufacturing and technology company. The Company produces a variety of adhesives, abrasives, safety products, chemicals, and other goods for consumers and businesses. 3M was incorporated in 1902 and is based in St. Paul, Minnesota.


DEAL STATS #
Overall 80 of 81
Sector (Medical Products) 14 of 14
Type (Add-on Acquisition) 69 of 70
State (Texas) 3 of 3
Country (United States) 50 of 51
Year (2019) 1 of 1
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-19 MModal - Technology Business

Pittsburgh, Pennsylvania, United States

MModal, Inc. - Technology Business works with more than 8,000 healthcare organizations worldwide, both providers and payers, to deliver software and services across the continuum of care. The business is based in Pittsburgh, Pennsylvania.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-05 3M - Gas & Flame Detection Business

St Paul, Minnesota, United States

3M Co. - Gas & Flame Detection Business is a gas and flame detection business provides a portfolio of fixed and portable industrial gas and flame detection instruments used in a variety of industries including petrochemical, power generation, oil & gas, food & beverage, mining and waste water treatment.

Sell $230M

Seller(S) 2

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 131 of 172
Sector (Medical Products) 6 of 8
Type (Add-on Acquisition) 47 of 60
State (Texas) 8 of 9
Country (United States) 51 of 64
Year (2019) 4 of 9
Size (of disclosed) 4 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 So-Young

Beijing, China

So-Young is an online medical aesthetic marketplace, that allows in-market consumers to research treatments, clinics, and providers, and book services directly through its proprietary platforms. The company is a community-driven lead generation marketplace, comprised of user-generated reviews, rankings, videos, and other info about medical aesthetic treatments, doctors, and hospitals. So-Young was founded in 2013 and is based in Beijing, China.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-08 Trade Me

Wellington, New Zealand

Trade Me is a provider of the online marketplace and classified advertising platforms in New Zealand as well as the generalist marketplace for new and used goods. Trade Me Group was founded in 1999 and is based in Wellington, New Zealand.

Buy NZ$2.6B
SELLER
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 4 of 15
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 3 of 7
State (Texas) 3 of 4
Country (United States) 4 of 8
Year (2019) 1 of 4
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-29 Essential Utilities

Bryn Mawr, Pennsylvania, United States

Essential Utilities is a water, waste water and natural gas providers, serving approximately 5 million people across 9 states under the Aqua and Peoples brands. Essential represents an infrastructure company uniquely positioned to have a powerful impact on improving reliability, quality of life and economic prosperity for all. Essential Utilities was founded in 1886 and is based in Bryn Mawr, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-21 Premium Brands

Richmond, British Columbia, Canada

Premium Brands is a manufacturer and distributor of food products in Canada and the United States. Premium Brands was incorporated in 1917 and is headquartered in Richmond, British Columbia.

Buy -