See all Orthopedic M&As (by date)
Exactech press release TPG Capital website
TPG Capital taking Exactech private for $625M (MedicalDeviceDaily)
Orthopedic implant and instrumentation firm, Exactech Inc., entered a definitive merger agreement with private equity company, TPG Capital, in a transaction that places the value of Exactech at $625 million. The agreement will provide growth capital to execute the company's strategy, and amounts to $42 in cash per share for shareholders.
"We believe that this agreement offers Exactech shareholders an opportunity to realize the company's growth and capture the value that's been created since going public 21 years ago, at a significant premium to the current share price," said Jim Binch, lead independent director, Exactech.
The purchase price is a premium of about 31 percent above the closing price on Oct. 20, and 37 percent above 90-day volume weighted average price. Shares were up 31 percent to $41.88 at the end of trading on Oct. 23 on news of the acquisition. J.P. Morgan Securities LLC is acting as financial advisor, and Greenberg Traurig P.A. and Greenberg Traurig LLP are serving as legal advisor to Exactech. Ropes and Gra...
