THL, Agiliti Agree to $32 Million Settlement Ending Buyout Case

Thomas H. Lee Partners LP and Agiliti Inc. plan to pay $32 million to end litigation over the medical equipment maker’s $2.5 billion private equity sale, according to court filings.

The class action settlement, filed in Delaware’s Chancery Court, would resolve claims that the buyout firm exploited an inside track to force through a transaction cashing out public investors for an unfair $10 per share. The consolidated lawsuit, filed in 2024, said Agiliti’s CEO hired conflicted advisers—with THL’s backing— and directed them to prioritize side deals for senior management, including payouts, rollover equity, and continued employment.

Abuses of corporate control ...