Biomet picks Bank of America, Goldman, JPMorgan to lead IPO – Reuters


Biomet Inc, the U.S. medical device maker that was taken private by a private equity consortium for $11.4 billion in 2007, has hired underwriters for an initial public offering later this year, people familiar with the matter said.

Biomet’s owners – Blackstone Group LP, Goldman Sachs Group Inc’s private equity arm, KKR & Co LP and TPG Capital LP – have selected Bank of America Merrill Lynch, Goldman Sachs Group and JPMorgan Chase & Co to lead the IPO, the people said.

The offering could come in the first half of 2014 and raise more than $1 billion, the people said; they asked not to be identified because the matter is not public.

Blackstone and Biomet did not immediately respond to requests for comment. Representatives for TPG, KKR and the banks declined to comment.

Founded in 1977, and based in Warsaw, Indiana, Biomet designs, manufacturers and markets products that include dental implants and artificial hips joints. Biomet competes with Smith & Nephew PLC and Stryker Corp.

Reporting by Olivia Oran and Soyoung Kim

Photo courtesy of Shutterstock

Leave a Reply

PE HUB Community

Join the 12525 members of PE HUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget