M&A Deal Summary

The Blackstone Group, TPG, ADIA and GIC Acquire Hologic

On October 21, 2025, private equity firm The Blackstone Group, private equity firm TPG, sovereign wealth fund ADIA and sovereign wealth fund GIC acquired medical products company Hologic for 18.3B USD

Acquisition Highlights
  • This is The Blackstone Group’s 6th, TPG’s 15th, ADIA’s 1st and GIC’s 3rd transaction in the Medical Products sector.
  • This is The Blackstone Group’s 5th, TPG’s 4th, ADIA’s and GIC’s 2nd largest (disclosed) transaction.
  • This is The Blackstone Group’s 228th, TPG’s 295th, ADIA’s 8th and GIC’s 17th transaction in the United States.
  • This is The Blackstone Group’s 11th, TPG’s 15th, ADIA’s 1st and GIC’s 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2025-10-21
Target Hologic
Sector Medical Products
Buyer(s) The Blackstone Group
TPG
ADIA
GIC
Deal Type Going Private
Deal Value 18.3B USD
Advisor(s) Goldman Sachs (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Hologic

Marlborough, Massachusetts, United States
Hologic's corporate headquarters in Marlborough, Massachusetts.
Hologic's corporate headquarters in Marlborough, Massachusetts.
Hologic is a developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products, with an emphasis on serving the healthcare needs of women throughout the world. Hologic was formed in 1985 and is based in Marlborough, Massachusetts.

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Buyer(S) 4

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 359 of 362
Sector: Medical Products M&A 6 of 6
Type: Going Private M&A Deals 41 of 41
State: Massachusetts M&A 11 of 11
Country: United States M&A 228 of 230
Year: 2025 M&A 13 of 16
Size (of disclosed) 5 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-16 7 Brew

Springdale, Arkansas, United States

7 Brew is a coffee brand that serves espresso-based coffee, chillers, teas, infused energy, sodas, and more. 7 Brew was founded in 2017 and is based in Springdale, Arkansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-04 TriMas Aerospace

Irvine, California, United States

TriMas Aerospace designs and manufactures precision-engineered fasteners, machined components, and complex assemblies for commercial, business, and military aircraft. TriMas Aerospace is based in Irvine, California.

Buy $1.5B
Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 448 of 451
Sector: Medical Products M&A 15 of 15
Type: Going Private M&A Deals 39 of 39
State: Massachusetts M&A 15 of 15
Country: United States M&A 295 of 298
Year: 2025 M&A 9 of 12
Size (of disclosed) 4 of 113
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-22 Tide Platform

London, United Kingdom

Tide Platform is a business management platform offering business accounts and related admin services. Tide Platform was founded in 2017 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-05 ThingWorx

Exton, Pennsylvania, United States

ThingWorx is a provider of platform for building and running applications for the Internet of Things (IoT). ThingWorx was formed in 2009 and is based in Exton,19341, Pennsylvania.

Buy -
Buyer

ADIA


Category Sovereign Wealth Fund
Founded 1976
PE ASSETS 875.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund that invests the Emirate of Abu Dhabi’s surplus revenues for long-term global value creation. Its investment mandate spans a highly diversified portfolio—including equities, fixed income, private equity, real estate, infrastructure, and financial alternatives—across all major regions worldwide. ADIA was established in 1976 and is headquartered in Abu Dhabi, United Arab Emirates.


DEAL STATS #
Overall 17 of 17
Sector: Medical Products M&A 1 of 1
Type: Going Private M&A Deals 5 of 5
State: Massachusetts M&A 1 of 1
Country: United States M&A 8 of 8
Year: 2025 M&A 3 of 3
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-09 Alvest

Paris, France

Alvest designs, manufactures, and distributes technical products for the aviation industry, which include aviation ground support equipment, spare parts and services, and technical adhesives and markings for the aerospace and industrial markets. Alvest was founded in 2006 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-02 Domestic & General

London, United Kingdom

Domestic & General is a specialist provider of extended warranty plans for domestic appliances and consumer electronic products. Domestic & General Group was formed in 1912 and is based in London, United Kingdom.

Sell -
Buyer
DESCRIPTION

GIC Private Ltd. is the investment arm of Singapore. The Group primarily invests through three investment groups, including public markets, private equity and real estate. GIC's private equity practice looks to invest in funds as well as directly in companies. GIC is based in Singapore with additional offices globally.


DEAL STATS #
Overall 46 of 46
Sector: Medical Products M&A 3 of 3
Type: Going Private M&A Deals 6 of 6
State: Massachusetts M&A 2 of 2
Country: United States M&A 17 of 17
Year: 2025 M&A 2 of 2
Size (of disclosed) 2 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-17 WaterBridge

Houston, Texas, United States

WaterBridge develops, owns and operates permanent, integrated water infrastructure networks to address the long-term produced water management requirements of its blue-chip customer base under long-term, fee-based contracts. WaterBridge was founded in 2015 and is based in Houston, Texas.

Sell -