American investment funds have one of the largest acquisitions of the year

A consortium of three US private equity firms – Blackstone Group, Carlyle Group and Hellman & Friedman – yesterday agreed to buy a majority stake in Medline Industries, the world’s largest privately-owned manufacturer and distributor of medical supplies. The parties did not disclose the financial details of the transaction. However, according to The Wall Street Journal, the deal is worth about $ 34 billion. This makes the deal one of the largest private equity leveraged acquisitions of a medical company since the 2008-2009 financial crisis.

Medline was founded by brothers James and John Mills in 1966 and went public in 1972. Five years later, the brothers bought back the shares, making the company private. James’s son, Charlie Mills, has been the CEO of Medline since 1997. Upon completion of the transaction, the Mills family will remain a shareholder in the company, and the current management team will also be retained.

Kirill Sarkhanyants