P&HS anticipated to benefit from Platinum's carve-out experience, sector expertise and commitment to growing the business

P&HS will retain Owens & Minor brand and operate as a standalone company in Platinum's portfolio

LOS ANGELES, Dec. 31, 2025 /PRNewswire/ -- Platinum Equity announced today that the acquisition of the Owens & Minor Products & Healthcare Services business ("Owens & Minor P&HS") has been completed.

The transaction includes the Owens & Minor brand and the acquired business will continue to operate as Owens & Minor P&HS as a privately held standalone company in Platinum Equity's portfolio.

The seller, which retained a five percent interest in the business, recently announced its remaining business will be rebranded Accendra Health, Inc., effective December 31, 2025.

Headquartered in Richmond, VA, Owens & Minor P&HS is a vertically integrated medical supply distribution platform primarily serving the acute care market. It is a leading national distributor of medical and surgical supplies for hospitals, health systems, and other healthcare providers across the United States.

"For more than 140 years, Owens & Minor has been guided by a strong sense of purpose, and we are proud to support its next chapter as a standalone business," said Jacob Kotzubei, Co-President of Platinum Equity. "With our sector expertise, carve-out experience, and operational resources, we can help the company become an even more agile and responsive partner to the healthcare industry it serves. We will work with the company to strengthen its foundation, expand its capabilities, and ensure it continues delivering essential products and services when and where customers need them most."

Platinum Equity has invested in numerous healthcare and supply chain businesses and has 30 years of experience acquiring and operating global businesses that have been part of large corporate entities. In recent years the firm has acquired businesses from firms like Caterpillar, Emerson Electric, Ingersoll Rand and Kohler, among others.

Platinum Equity Managing Director Matthew Louie said that continuity is critical to the transition process.

"Owens & Minor P&HS has a proud legacy of putting customers first, and we are excited to help carry that forward," said Louie. "Our goal is to ensure continuity while making thoughtful improvements that keep the company dynamic, responsive, and aligned with the evolving needs of its customers. We will work closely with the team to help strengthen fulfillment performance, drive operational excellence across manufacturing and distribution, and accelerate growth in proprietary products. At the same time, we will invest in supply chain enhancements to help improve efficiency and resiliency."

Bank of America and Fifth Third served as financial advisors to Platinum Equity on the P&HS acquisition. Gibson, Dunn & Crutcher LLP served as legal advisor, Willkie Farr & Gallagher LLP served as debt financing counsel, and Latham & Watkins LLP served as special regulatory counsel to Platinum Equity on the transaction.

Citi and Wells Fargo acted as financial advisors to Owens & Minor. Kirkland & Ellis served as Owens & Minor's legal advisor.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions.

Contact:

Dan Whelan
Platinum Equity
dwhelan@platinumequity.com

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SOURCE Platinum Equity