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H/Advisors Abernathy represents Medline Industries as it raised $6.3B on December 16 via the biggest IPO for 2025.
The IPO topped the $5.3B raised by Chinese battery maker CATL, according to the Financial Times. Medline’s stock sale is one of the largest private-equity IPOs of all time.
Based in Northfield, IL, the company manufactures and distributes surgical and other medical products to hospitals. It has 43K employees in more than 100 countries.
Medline posted $20.6B in nine-month revenues and earned $977M.
The IPO was supposed to take place earlier this year but was put on hold to gauge the impact of Trump's tariffs on Medline’s foreign suppliers.
H/Advisors Abernathy has managing directors Dan Scorpio, who heads M&A and activism; and Sheila Ennis advising Medline.
Havas owns H/Advisors Abernathy.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
