Two mid-market buyout firms are writing their largest equity cheques after agreeing the $4.1bn (â¬2.65bn) leveraged buyout of UK-listed drug company Bristol-Myers SquibbâÂÂs medical technology business.
The ConvaTec deal from Bristol-Myers Squibb is the largest this year and will see US-based Avista Capital Partners and Swedish buyout peer Nordic Capital offer about half the price as equity from their funds, according to Thompson Dean, co-managing partner and chief executive of Avista.
