Federal Street Acquisition Corp. closed its approximately $1.74 billion combination with Agiliti Health Inc.
The combined company, named Agiliti Inc., will continue providing healthcare technology and service solutions to the U.S. healthcare industry.
Following the transaction, Agiliti will be majority-owned by entities affiliated with middle-market private equity firm Thomas H. Lee Partners LP, an affiliate of which is the sponsor of Federal Street Acquisition. Thomas Leonard will remain CEO of Agiliti.
Agiliti Health is a portfolio company of Irving Place Capital Management LP.