Healthcare & Life Sciences Private Equity Deal Tracker: Blackstone, Carlyle and Hellman & Friedman to Acquire Medline

McGuireWoods LLP

A partnership comprised of funds managed The Blackstone Group, The Carlyle Group and Hellman & Friedman will make a majority investment in Medline Industries, according to a news release.

Medline, based in Northfield, Ill., is a manufacturer and distributor of healthcare supplies. The company reported 2020 revenue of $17.5 billion.

The Blackstone Group, based in New York, targets investments in established and growth-oriented businesses. Founded in 1985, the firm has more than $200 billion private equity assets under management.

The Carlyle Group, with its U.S. headquarters in Washington, D.C., is a global investment firm that deploys private capital across three business segments: global private equity, global credit and investment solutions. Founded in 1987, the firm targets companies in healthcare and many other industries.

Hellman & Friedman, based in San Francisco, is a private equity firm focused on making large-scale equity investments. Founded in 1984, the firm targets investments in healthcare and several other industries.

Singapore’s sovereign wealth fund — GIC — is also part of the investing partnership.

Medline will continue to be led by the Mills family, who will remain the largest single shareholder.

Terms of the acquisition were not disclosed.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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