Milbank LLP represented all of the debt financing sources in connection with debt financing commitments provided in connection with the agreement by a consortium of private equity firms including Blackstone Group Inc. (NYSE: BX), Carlyle Group Inc. (NYSE: CG) and Hellman & Friedman LLC to acquire Medline Industries, Inc. (“Medline”). The acquisition, which would value Medline at more than $30 billion, is noted by the Wall Street Journal to be one of the largest leveraged buyouts since the financial crisis.
Based in Illinois and operating globally in over 110 countries, Medline is the nation’s largest privately held medical supply company, reporting $17.5 billion in revenue in 2020. Medline is a manufacturer, distributor and solutions provider, working with the country's largest healthcare systems and independent facilities across the continuum of care to provide the clinical and supply chain resources required for long-term financial viability in delivering high-quality care.
The Milbank team was led by New York-based Global Leveraged Finance partners Marcus Dougherty and Lauren Hanrahan along with partners Michael Bellucci, Jerome McCluskey, Charles Stern, Benjamin Sayagh and Spencer Pepper, and associates Christopher Hahm, Alexis Soshnick, Gabrielle Paolini, Juyon Kang, Taylor Andrews, Morgan Lingar, Jessica Jolivette, Eriq Yu, Joy-Annette Atsegbua, Eliza Biswas, George Miller, Amira Privott-Yeiser, Jenny Saufley, Jacques Zelnik and Mitch Cooper. The Milbank Global Capital Markets team was led by partner Rod Miller along with partners Benjamin Miles and Antonio Diaz-Albertini. Global Corporate partners Casey Fleck and Adam Moses, as well as Real Estate partner Kevin O’Shea and associate Jinah Park also assisted on the transaction.
