Patterson Companies Agrees to Acquisition by Patient Square Capital

Patterson Companies, Inc., a leading dental and animal health distributor, has announced an acquisition agreement with Patient Square Capital, a dedicated health care investment firm. The deal involves Patterson shareholders receiving $31.35 in cash per share, amounting to around $4.1 billion. The company's Board of Directors has unanimously approved the transaction, excluding the President and CEO, Don Zurbay, who has recused himself from the deliberations. The acquisition is expected to be completed in the fourth quarter of Patterson’s fiscal 2025, subject to shareholder and regulatory approvals, as well as other customary closing conditions. 

Following the merger, Patterson will become a privately held company, with its headquarters remaining in St. Paul, Minnesota. Guggenheim Securities, LLC is serving as Patterson's financial advisor, and Taft Stettinius & Hollister LLP as its legal counsel. On the other hand, Patient Square is being advised by Citi, UBS Investment Bank, Wells Fargo Securities, LLC, Kirkland & Ellis LLP, and Greenberg Traurig, LLP.

Patterson Companies Inc. connects dental and animal health customers in North America and the U.K. to products, technologies, and services. Patient Square Capital, with approximately $11 billion in assets under management, focuses on partnering with growth-oriented companies and top-tier management teams in the health care sector.

The acquisition is expected to enhance the growth and development of Patterson Companies in line with its mission to provide high-quality products and services to its customers.