DJ Agiliti to Buy Sizewise for $230 Million
By Dave Sebastian
Agiliti Inc. said it has agreed to buy Sizewise Rentals LLC, a maker of hospital beds, surfaces and patient-handling equipment, in a transaction valued at $230 million.
The essential-service provider on Tuesday the deal could generate $5 million in annual cost savings for the first year, growing to $15 million by year three. The deal supports Agiliti's local-market presence, it said.
Agiliti said it plans to fund the deal through cash and debt.
For the year ended June 30, Sizewise generated revenue of $155 million, Agiliti said. Kansas-based Sizewise has a network of 65 local branches and four manufacturing centers.
The companies expect the transaction to close early in the fourth quarter.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
September 14, 2021 08:43 ET (12:43 GMT)
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