Agiliti Inc, a nationwide provider of medical technology management and service solutions to the healthcare industry, announced that private equity firm Thomas H. Lee Partners, LP (THL), the company’s majority shareholder, will acquire all outstanding shares of Agiliti stock for $2.5 billion.

The transaction is expected to close in the first half of 2024, subject to customary closing conditions. 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.

A special committee of the Agiliti board of directors determined that the proposed transaction is in the best interest of Agiliti and its shareholders.With a unanimous recommendation by the special committee, the Agiliti board of directors approved the transaction.

“Agiliti serves a critical role in sustaining our national healthcare infrastructure, and our dedicated team has led the way to our substantial growth and evolution over the last decade,” said Tom Leonard, CEO of Agiliti. “We are pleased to expand our five-year partnership with THL in a transaction that provides immediate value and liquidity to our shareholders, while lifting certain overhangs that had limited our performance in the public market since the time of our IPO.”

Centerview Partners LLC is acting as exclusive financial advisor to the special committee. Weil, Gotshal & Manges LLP is acting as legal counsel to the special committee. Goldman Sachs & Co LLC is acting as exclusive financial advisor to THL. Ropes & Gray LLP is acting as legal counsel to THL.