TPG Capital to Acquire Exactech

Orthopedic devicemaker Exactech announced that they agreed to be taken private by TPG Capital for $42.00/share in cash, valuing the transaction at $625 million in total. This represents a 31% premium over the close on October 20 and a 2.4x revenue multiple. The company will continue to be headquartered in Gainesville, Florida, and the transaction is expected to close in 1Q:18.

TPG Capital was part of the consortium that acquired Biomet in 2007, later selling it to Zimmer for more than $13 billion.