ST. LOUIS, Jan. 31, 2013 /PRNewswire/ -- Young
Innovations, Inc. ("Young" or the "Company") today announced the
completion of its acquisition by affiliates of Linden Capital
Partners ("Linden") in an all-cash transaction valued at
approximately $314 million.
As previously announced, the transaction was approved by Young
shareholders at a special meeting of shareholders held
January 30, 2013. Pursuant to the terms of the agreement and
plan of merger, Young's shareholders are entitled to receive
$39.50 in cash, without interest,
less any applicable withholding taxes, for each share of Young
common stock owned by them. As a result of the acquisition, Young's
common stock will no longer be listed for trading on NASDAQ.
Shareholders of record will receive a letter of transmittal and
instructions on how to surrender their shares of Young common stock
in exchange for the merger consideration. Shareholders of record
should wait to receive the letter of transmittal before
surrendering their shares.
Robert W. Baird & Co. Incorporated served as financial
advisor, and provided a fairness opinion, to the Board of Directors
of Young in connection with the transaction. McDermott Will & Emery LLP served as legal
advisors to Young in connection with the transaction. Kirkland
& Ellis LLP served as legal counsel to Linden in connection
with the transaction.
About Young Innovations, Inc.:
Young develops, manufactures and markets supplies and equipment
used by dentists, dental hygienists, dental assistants and
consumers. The Company's consumables product offering includes
disposable and metal prophy angles, prophy cups and brushes, dental
micro-applicators, moisture control products, infection control
products, dental handpieces (drills) and related components,
endodontic systems, orthodontic toothbrushes, flavored examination
gloves, children's toothbrushes, and children's toothpastes. In
addition, the Company offers a line of diagnostic products that
includes panoramic X-ray machines and related supplies. The Company
believes it is a leading U.S. manufacturer or distributor of prophy
angles and cups, liquid surface disinfectants, dental
micro-applicators and obturation units designed for warm, vertical
condensation.
About Linden Capital Partners:
Linden Capital Partners is a Chicago-based private equity firm focused
exclusively on leveraged buyouts in the healthcare and life science
industries. Linden's strategy is based upon three elements: i)
healthcare and life science industry specialization, ii) integrated
private equity and operating expertise, and iii) strategic
relationships with large corporations. Linden currently has
investments in middle market platforms in the products,
distribution, and services segments of healthcare.
SOURCE Young Innovations, Inc.