Hellman & Friedman, Carlyle, and Blackstone are all set to buy the majority stake in Medline, the manufacturer, and distributor of medical supplies. The Hellman & Friedman and Carlyle Group are private equity firms, while Blackstone is an investment management company.
The companies will buy a majority stake the Medline. The announcement by the company came on Saturday. Medline has done record-breaking performance in the previous year, which was $17.5 billion. The company announced, it is planning to use the investment for product expansion and new offerings.Additionally, according to the news stated by the company officials, it is planning to expand its business internationally with the alliance.
The financial deals between the firms and the company were not disclosed to the media. The financial deal is expected to complete in late 2021. According to a report stated by a news agency, it is said that the transaction could value Medline at over $30 billion. The report findings have been stated by the people familiar with the matter of the deal.
Medline Industries, Inc., stated that the Mills family would lead the firm. The Mills family is the largest single shareholder of the company. The Northfield, Illinois, company was founded in 1910 by A.L. Mills. The company is the distributor and manufacturer of medical supplies. The medical products are exported to more than 125 countries. These crucial bits of information have been furnished in Medline’s official website.