Agiliti, Inc. (NYSE:AGTI) entered into a definitive agreement to acquire Sizewise Rentals, LLC for $230 million on September 14, 2021. The all cash transaction is valued at approximately 7.7x Adjusted EBITDA for the twelve months ended June 30, 2021. For the twelve months ended June 30, 2021, Sizewise Rentals, LLC generated revenues of $155 million and Adjusted EBITDA of $30 million, inclusive of an estimated benefit from COVID-19 of approximately $5 million in Adjusted EBITDA.

Agiliti intends to finance the transaction through a combination of cash and debt. The Boards of Directors of both companies have unanimously approved the agreement. Subject to the satisfaction of customary closing conditions, the transaction is expected to close early in the fourth quarter of 2021.

As of September.15, 2021, the transaction is expected to close in the fourth quarter of 2021. Cozen O'Connor acted as a legal advisor to Agiliti, Inc. David Schwartz, Michael Wiesner, Jason D. Flaherty, John Narducci, James Larkin, Sarah Schaedler, Daniel Forester, Jared Bobrow, Heather Sussman, Thora Johnson, Robert F. Lawrence, Julie Totten, Harry Clark, Christoph Brenner, Amy W Ray, Matthew Rose, Jennifer Clarke-Smith, Alykhan A. Shivji, Bill Hughes, Katri Lahtinen, Diana Gillis and Emily Blanco of Orrick, Herrington & Sutcliffe LLP acted as legal advisor to Sizewise Rentals, LLC.