Agiliti to be taken private in $10.00 per share merger agreement

Agiliti announced that it has entered into a definitive merger agreement pursuant to which an affiliate of private equity firm Thomas H. Lee Partners, the company’s majority shareholder, will acquire all outstanding shares of Agiliti common stock not currently owned by THL and its affiliates and certain management shareholders for $10.00 per share in cash, implying an enterprise value of approximately $2.5B. The purchase price represents premia of approximately 39% and 43% over Agiliti’s 30-day and 90-day volume weighted average price per share, respectively, as of February 23, 2024, the last trading day prior to public disclosure of the transaction. A special committee of the Agiliti board of directors, comprised solely of non-management directors not affiliated or associated with THL and advised by its own independent legal and financial advisors, determined that the proposed transaction is in the best interest of Agiliti and its shareholders. Acting upon the unanimous recommendation of the Special Committee, the Agiliti board of directors approved the transaction. The transaction is expected to close in the first half of 2024, subject to customary closing conditions. The transaction has been approved by THL Agiliti LLC in its capacity as the majority shareholder of Agiliti and no other shareholder approval is required. Upon completion of the transaction, Agiliti will become a private company and will no longer be publicly listed or traded on the New York Stock Exchange.