M&A · Industrials · Services-Miscellaneous Equipment Rental & Leasing
THL Agiliti LLC to acquire Agiliti, Inc.
Announced Feb 26, 2024 · Closed May 7, 2024
Deal value$2.50BEV $2.50B
Premium—To unaffected price
EV / Adj. EBITDA9.9x2.1x EV / Revenue
ConsiderationAll cash$10.00 per share
Transaction
- Acquirer
- THL Agiliti LLC
- Target
- Agiliti, Inc.
- Buyer type
- Private equity
- Offer price per share
- $10.00
- Enterprise value
- $2.50B
- Status
- Closed May 7, 2024
Deal protections
- Break fee (target pays)
- $8.8M · 0.4%
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- Centerview
Sector context · Industrials
- Comparable deals
- 84 in the prior 24 months
- Premium
- Sector median 41.2%
- EV / Adj. EBITDA
- 9.9x vs. 10.9x sector median
- Break fee
- 0.4% vs. 2.9% sector median
Timeline
- AnnouncedFeb 26, 2024
- Proxy filedMar 12, 2024
- Definitive proxyApr 15, 2024
- Shareholder vote—
- ClosedMay 7, 2024
Valuation · fairness opinions
Trading comparables$6.80$11.55
Discounted cash flow$8.65$14.10
Offer $10.00
Implied value per Agiliti, Inc. share by analysis, from Centerview · DCF discount rate 10%–11.5%.