A group of private equity firms, including Blackstone Group, Carlyle Group, and Hellman & Friedman, agreed to buy a majority stake in medical supply manufacturer and distributor Medline Industries, the company announced Saturday, June 5.
Medline, which had US$17.5 billion in revenue last year, stated it would use the investment to expand its product offerings and its business internationally.
It did not disclose the financial terms of the deal, which is expected to be completed in late 2021.
Earlier Saturday, The Wall Street Journal reported the parties were nearing a transaction that could value Medline at more than US$30 billion, according to people familiar with the matter.
The Northfield, Illinois, company stated it will continue to be led by the Mills family, who will remain its largest single shareholder. Its management team also will remain in place. Medline was founded in 1910 by A.L. Mills, and now distributes medical supplies to more than 125 countries, according to the company’s website.
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