American Industrial Partners (AIP), an operationally oriented industrials investor, has announced the closing of the acquisition of Avanos Medical, Inc. by affiliates of investment funds advised by AIP in a transaction valued at approximately US$1.272 billion.
Latham & Watkins LLP represented the financing sources in the transaction with a team led by Stelios Saffos, Global Chair of Latham’s Capital Markets and Hybrid Capital practices, and Alfred Xue and Jason Bosworth, Global Vice Chairs of Latham’s Banking & Private Credit Practice, and partners Jesse Sheff, Nicole Fanjul, Clever Gallegos, and Hai Pham and counsels Seung-Ju Paik, Katherine Page, and Linda Kim, with associates Chiara Eramo, Jess Sandor, Will Council, Sean Travers, Jacob Ibrahim, Casey Pepa, and April Yoon. Advice was also provided on executive compensation, employment, and benefits matters by partner Ben Rosemergy, with associate Kevin Matheny; on data and technology transactions matters by associates Victoria Allen and Zac Alpert; on healthcare and life sciences matters by partners Betty Pang and Eveline Van Keymeulen and counsel Chad Jennings, with associate Jeanne Fabre; on environment, land, and resources matters by associate Brian McCall; and on tax matters by partner Bora Bozkurt and counsel Kathryn Harrington.
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