H.B. Fuller to acquire UK medical adhesives firm AMS for ~$3B in all-cash deal

Filed June 26, 2026 · Period ending June 25, 2026 · ~2 min read

Key Changes

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  H.B. Fuller agreed to acquire Advanced Medical Solutions Group plc for £2.85 per share in cash, representing £715M enterprise value (~$3B including debt refinancing) at 12.9x 2026 EBITDA, funded by $2.1B secured and $917M unsecured bridge facilities with 364-day maturities and quarterly rate step-ups.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  The acquisition adds ~$300M annual revenue in medical adhesives, tissue bonding, and biosurgicals, expanding H.B. Fuller's addressable market by $15B to $95B and driving positive margin mix toward the company's >20% EBITDA target through higher-margin medical products.

  Exhibit 99.1 verify on EDGAR →
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  H.B. Fuller expects $55M in run-rate synergies by 2031 from eliminating public company costs, rationalizing overlapping expenses, and sourcing savings, reducing the effective EBITDA multiple to below 8x and targeting deleveraging to 2.5x-3x within two years post-close.

  Exhibit 99.1 verify on EDGAR →