Agiliti(US:AGTI) Businesswire·2024-03-05 21:05Core Insights - Agiliti Inc. reported a revenue growth of 4% in Q4 2023, totaling $292 million, but experienced a net loss of $5.7 million compared to a net income of $3.4 million in the same period last year [2][4] - For the full year 2023, revenue increased by 5% to $1.17 billion, but the company faced a net loss of $19.4 million, down from a net income of $30.2 million in 2022 [3][4] - The company announced a definitive merger agreement with THL Partners, which will take Agiliti private at a price of $10.00 per share, implying an enterprise value of approximately $2.5 billion [6][7] Fourth Quarter 2023 Highlights - Revenue for Q4 2023 was $292 million, a 3.7% increase from $281.7 million in Q4 2022 [4] - Adjusted EBITDA for Q4 2023 was $67.3 million, down 5.7% from $71.4 million in the prior year [5] - The diluted loss per share for Q4 2023 was $0.04, compared to diluted earnings per share of $0.02 in Q4 2022 [2][4] Full-Year 2023 Highlights - Total revenue for 2023 was $1.17 billion, representing a 4.8% increase from $1.12 billion in 2022 [4] - Adjusted EBITDA for the year was $266.9 million, a 10% decrease from $296.6 million in 2022 [5] - The company reported a total debt of $1.08 billion and a net leverage ratio of 3.97x as of December 31, 2023 [3][26] Merger Agreement - Agiliti has entered into a merger agreement with THL Partners, which will acquire all outstanding shares not owned by THL for $10.00 per share [6] - The transaction is expected to close in the first half of 2024 and has been approved by THL Agiliti LLC, the majority shareholder [7] - Following the completion of the transaction, Agiliti will no longer be publicly traded on the New York Stock Exchange [7]