H.B. Fuller Proposes 285p Cash Offer for Advanced Medical Solutions
H.B. Fuller has submitted a 285 pence-per-share all-cash proposal for Advanced Medical Solutions, facing a June 18 “put up or shut up” deadline under UK takeover rules. AMS’s integration of Peters Surgical drove 29% revenue growth to £228.9 million and 24% EBITDA gain to £49.9 million for 2025.
1. Acquisition Proposal Details
H.B. Fuller has submitted an all-cash offer of 285 pence per share for Advanced Medical Solutions and entered due diligence discussions. Under UK takeover regulations, the company must announce a firm intention or withdraw by June 18.
2. Advisory Teams and Strategic Rationale
H.B. Fuller is advised by Goldman Sachs and Perella Weinberg Partners, with legal counsel from Ashurst LLP, aiming to secure cost synergies from AMS’s global medical device operations. AMS is backed by Evercore Partners International and Investec Bank in evaluating the bid.
3. Advanced Medical Solutions Financial Performance
Following its July 2024 Peters Surgical acquisition, AMS reported a 29% rise in revenue to £228.9 million and a 24% increase in adjusted EBITDA to £49.9 million for fiscal 2025, bolstering its appeal to strategic buyers.
4. Previous Private Equity Interest
Boston-based TA Associates ended its pursuit on May 15 after preparing an offer around 280 pence per share, valuing AMS at roughly £600 million, marking the fifth takeover approach in 20 months.