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TPG Capital to Acquire Exactech with Strategic Growth Investment

Practices: Private Equity, Mergers & Acquisitions

Ropes & Gray counseled TPG Capital in its definitive agreement to acquire Exactech, a leading developer and producer of orthopaedic implant devices and surgical instrumentation for extremities and large joints. Exactech will be a privately-held company headquartered in Gainesville, Florida. The announcement was made on October 23.

TPG Capital will acquire all of the outstanding shares of Exactech common stock. The agreement provides for the payment of $42 per share in cash to all holders of Exactech common stock other than certain management stockholders who have agreed to exchange a portion of their shares for new equity securities. The transaction values Exactech at $625M and is expected to close in the first quarter of 2018, subject to customary closing conditions.

The Ropes & Gray team was led by private equity partner Jason Freedman, mergers & acquisitions partner Paul Scrivano and private equity associates James Davis and Chau Le.

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