Simpson Thacher represented a consortium comprised of funds advised by Apax Partners (the “Apax Funds”), together with Canada Pension Plan Investment Board (“CPPIB”) and the Public Sector Pension Investment Board (“PSP Investments”) in its definitive agreement to sell Acelity, Inc. and its KCI subsidiaries worldwide to 3M for approximately $6.725 billion.
The transaction will be effected through the sale of Acelity, Inc., a direct wholly-owned subsidiary of Acelity L.P. Inc., and is expected to close in the second half of 2019, subject to customary closing conditions and regulatory approvals.
Acelity is a global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand. The KCI product portfolio is available in more than 90 countries and delivers value through solutions that speed healing and lead the industry in quality, safety and customer experience. Committed to advancing the science of healing, KCI focuses on innovation. Headquartered in San Antonio, Texas, Acelity employs nearly 5,000 people around the world.
May 10, 2019