AIP completes take-private buyout of medical tech firm Avanos Medical
- David Pacitti serves as CEO of Avanos
- Avanos Medical was founded in 2014
American Industrial Partners has completed its previously announced take-private acquisition of Avanos Medical, a Alpharetta, Georgia-based medical technology company. The transaction puts Avanos at a valuation of approximately $1.272 billion.
According to the terms of the deal, Avanos stockholders will receive $25 per share in cash for each share of common stock they own.
David Pacitti serves as CEO of Avanos.
On the closing, Joel Rotroff, a partner at AIP, said, “We are excited to partner with Avanos to deliver a compelling platform for continued growth in the medical technology sector. We are confident that by leveraging AIP’s deep operational expertise and resources, Avanos will be in a strong position to build on its momentum and achieve long-term success.”
Sidley Austin LLP served as legal counsel, Ropes & Gray LLP served as financing counsel and Baker Botts LLP served as regulatory counsel to AIP.
J.P. Morgan Securities LLC served as lead financial advisor and Alston & Bird, LLP served as legal counsel to Avanos. UBS Investment Bank also served as a financial advisor to Avanos.
Avanos Medical was founded in 2014.
