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Consortium of private equity groups, among others Blackstone and Carlyle, which is close to acquiring Medline’s medical supply group for about $ 34 billion, including debt, which would be the largest purchase of the year, people reported on the matter.
The investor team is expected to announce a deal soon, a person with direct news said.
The transaction would be the largest acquisition involving a club of private equity investors in the 2007 financial crisis. It would be ranked as one of the largest private equity deals ever, following the US $ 44 billion acquisition of the US energy group TXU Corporation in 2007.
Blackstone, which has also partnered with Hellman & Friedman in the deal, outperformed other consortia of purchasing groups, including one with Bain Capital and CVC and another led by Brookfield.
Founded in 1966 by Medline, Jim and John Mills, it is one of the largest medical supplies. The family business is now run by Charles Mills.
In 2018, Blackstone agreed to the largest deal since the financial crisis, raising $ 17.3 billion to take a controlling stake in Thomson Reuters ’financial terminals and data businesses. The Investment Committee of the Canadian Pension Plan and the Singapore GIC Fund helped fund the deal.
The club agreements were well known as they were in the years leading up to the financial crisis private equity groups to withstand increasing transactions. They got a violent end to the crisis when the credit dried up, but they recently gained attention.
The Wall Street Journal reported it face-to-face.
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