3M to Acquire Acelity for $6.7 Billion

May 2, 2019

Cleary Gottlieb is acting as counsel to 3M, which has entered into a definitive agreement to acquire Acelity Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners, together with controlled affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, for a total enterprise value of approximately $6.7 billion.

The acquisition, which expands 3M’s presence in advanced and surgical wound care, is expected to close in the second half of 2019, subject to customary closing conditions and regulatory approvals.

For more information, please see the official press release here.