New York-listed HB Fuller, the world’s largest pureplay adhesives company, is acquiring London-listed Advanced Medical Solutions Group, a UK-based world-leading specialist in tissue-healing technologies, in a deal that values the share capital of AMS at approximately £659m and implies an enterprise value of approximately £715m (US$946m).
The acquisition price of 285 pence or each AMS share represents a premium of approximately 34.8% to the closing price of 212 pence on 20 May.
“This transaction is a rare opportunity to advance the evolution of our portfolio,” said Celeste Mastin, president and CEO of HB Fuller. “We have long been clear that medical is a core strategic growth market . . . given its durable demand trends, high regulatory-based entry barriers, and margin profile.”
AMS brings HB Fuller a portfolio of differentiated surgical adhesive technologies in a market benefitting from durable growth tailwinds. The acquisition will extend HB Fuller’s capabilities across tissue bonding adhesives, tapes and dressings and formulated biosurgicals.
It also gives HB Fuller access to AMS’s large, dedicated pan-European salesforce across core healthcare markets, hospital systems, and specialty distributors, while AMS will be able to leverage HB Fuller’s US infrastructure.
The acquisition price represents a multiple of 12.9x based on current consensus forecast for 2026 AMS EBITDA. It will be fully financed through 100% committed financing.
Advisors
Perella Weinberg Partners and Goldman Sachs are financial advisors to HB Fuller. Ashurst and Perkins Coie are serving as legal counsel.
Evercore and Investec are financial advisors to AMS. Addleshaw Goddard is legal adviser.
Press release: H.B. Fuller Announces Offer to Acquire Advanced Medical Solutions | H.B. Fuller
