THL Partners to buy Agiliti for $2.5 billion in cash

Private equity firm THL Partners has agreed to acquire healthcare technology company Agiliti in a deal that values the latter at $2.5 billion, the companies announced on Monday.

Under the terms of the agreement, a subsidiary of THL will pay $10 per share in cash for all the outstanding shares of Agiliti that it does not already own. This represents a 31% premium over Agiliti’s closing price on Friday.

Agiliti, which provides medical equipment management and service solutions to hospitals and other healthcare facilities, said the deal would help it accelerate its growth and innovation. The company’s board of directors unanimously approved the transaction, which is expected to close in the first half of this year, subject to customary closing conditions and regulatory approvals.

Following the news, Agiliti’s shares surged 29% in premarket trading on Monday.

THL Partners is a private equity firm that invests in companies across three industry verticals: Financial Technology & Services, Healthcare, and Technology & Business Solutions. It has raised $35 billion of equity capital and worked with over 170 partner companies since its inception. Some of its portfolio companies include Agiliti, Ceridian, Fidelity National Information Services, and Party City. THL Partners is based in Boston, Massachusetts.