McDermott Advises TA Associates On $2.3 Billion Acquisition Of The Medical Devices And Technologies Division Of The Smiths Group Plc, A FTSE 100 Company


McDermott Will & Emery advised TA Associates (TA), a leading global growth private equity firm, on entry into a definitive agreement for the $2.3 billion acquisition of Smiths Medical, the medical devices and technologies business of the Smiths Group plc. The acquisition is conditional upon the approval of Smiths’ shareholders and on receipt of certain anti-trust regulatory approvals.

Smiths Medical is a leading global manufacturer of specialty medical devices and technologies with key franchises in infusion systems, vascular access and vital care. The company is headquartered in Minneapolis, Minnesota, with operations in more than 30 countries, and employs more than 7,500 employees.

TA is one of the most experienced global growth private equity firms. It has more than 50 years of experience helping to scale companies in targeted sectors within its five core industries of technology, healthcare, financial services, consumer and business services. TA invests in profitable, growing companies with opportunities for sustained growth. Since its founding, TA has raised $47.5 billion in capital and has invested in more than 535 companies around the world.

McDermott’s Arvin Abraham, lead attorney on the deal, commented: “We are thrilled to support TA on such a landmark transaction in the healthcare sector, which would be the largest UK healthcare buyout of 2021 and third largest globally. This is a sophisticated cross-border deal involving multiple jurisdictions and a carve-out from a major UK diversified industrial, which our global team worked seamlessly to deliver. ”

The cross-border McDermott team is led by corporate attorney Arvin Abraham and included partners Tom Whelan, Linda Zeman, James Ross and Paul McGrath, supported by counsel Philip Corser along with associates Emmy Clode, Antonina Nijran, Sarah Gabbai, Rosie Mist, and trainee solicitors Simon Margesson and Bethany Drayton. In Paris, partner Jilali Maazouz and associate Abdel Abdellah and partner Heather Bethancourt in Dallas also advised.

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