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If you're a maintenance supervisor for a commercial property, you've had to deal with everything from leaky faucets to flickering light bulbs. But nothing's worse than that ancient boiler that's lived in the building since the day it was built 50 years ago. It's enough to make anyone lose their cool. That's where Grainger comes in. With industrial grade products and dependable, fast delivery, Grainger can help with any challenge, from worn out components to everyday necessities. Call clickgrainger.com or just stop by Grainger for the ones who get it done.
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This is Scott Becker with the Becker Business Podcast. Today's discussion, we're going to talk about Medline going public. So so here's the deal with Medline. Medline filed this week to go public to sell shares in a public offering. They're going to be listed on the Nasdaq. The overall valuation for Medline in this public offering is estimated about $55 billion. And again, Medline's one of the biggest medical supply companies in the country. Medline four or five years ago sold part of the company. There was a family, a famous family from Chicago that owned part of Medline. Brilliant group of leaders. Originally the Mills family and relationships who really ran the company grew it to evaluation about 34 billion. When it was sold to Bartlett, Blackstone and a couple other private equity funds. That valuation in 2021 was right about 34 billion. Now the public offerings are at about 55 billion. Everybody should really do well in this. The, the family behind the whole thing. The, the Mills family ought to be extremely proud of what they've built in the outcome here. Blackstone, who's not had many exits the last several years, ought to be thrilled as well. But ultimately the company here, Medline, is going to raise about five and a half billion dollars through the public offering, selling about 10% of the shares to the public. But what it really does is provides liquidity over time for the entire company and gives them currency to do new deals with. So all kinds of benefits to Blackstone. The Medline Mills family ought to be really proud of the outcome as well. An incredible company that was built over the long run by the Mills family. Blackstone the last couple years with Carlisle, Hellman and Friedman also invested in it. Again, the valuation has gone from 34 billion to 55 billion in the last couple of years. But, but an amazing home run all the way around for Blackstone, the Mills family and everybody else. Congratulations. Incredible to watch. Thank you for listening to the Becker business. The Becker Private Equity Podcast if you get a chance, do please go online and buy a copy of our new book, Business Building Great Businesses. Quite frankly, the Mills family, Andy and Charlie should have written the book and Jimmy, but Building Great Businesses create momentum, overcome setbacks, and scale with confidence. It's available on Amazon. Please pre order the hardcover copy. Thank you very much for listening. And thank you for listening to the Becker Business. The Becker Private Equity Podcast. God bless you all. Thank you very, very much.
- [03:06]
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