Ropes & Gray represented American Industrial Partners in connection with obtaining financing for its completed acquisition of Avanos Medical, Inc., a leading medical technology company, for approximately $1.272 billion. The transaction was announced on April 14 and completed on July 27.
Under the terms of the merger agreement, Avanos stockholders will receive $25 per share in cash for each share of common stock they own. With the completion of the transaction, Avanos common stock will cease trading on the New York Stock Exchange and Avanos will become a private company.
American Industrial Partners is an operationally oriented industrials investor with approximately $17.8 billion in assets under management.
The team included finance partners Dan Coyne, Jeff Lang, and Stefanie Birkmann.
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