Minnesota losing public company in $366M deal as Agiliti’s biggest shareholder

Agiliti Inc., after three years as a publicly traded company, will go private again as its largest shareholder buys the rest of the firm.

Boston-based private equity firm Thomas H. Lee Partners (THL) already owns 73% of Agiliti’s shares. It has agreed to pay $10 a share for the rest, a 39% premium to the average price of Agiliti’s stock over the past 30 days.

The enterprise value of Eden Prairie-based Agiliti is about $2.5 billion, according to the news release announcing the deal. Enterprise value includes the market value of outstanding shares, which is about $1 billion for Agiliti prior to the deal announcement, plus the value of short-term and long-term debt as well as cash and cash equivalents.

To acquire the 36.6 million remaining shares it does not already own, THL will have to pay about $366 million.

Agiliti sells medical equipment and services to health care providers and governments, including helping to keep the nation’s stores of vital…