AGILITI INC. / FEDERAL STREET ACQUISITION CORP. / UNIVERSAL HOSPITAL SERVICES INC. / Merger / Public / £1362m

Federal Street Acquisition Corp., a special purpose acquisition company sponsored by an affiliate of Thomas H. Lee Partners, L.P., and the holding company of Universal Hospital Services, Inc., a leading, nationwide provider of healthcare technology management and service solutions and a portfolio company of Irving Place Capital Management, L.P., announced that they have entered into a definitive merger agreement. The purchase price for the acquisition implies an initial enterprise value for the combined company of approximately $1.74 billion, or 11.6x UHS’s forecasted 2018 Adjusted EBITDA of approximately $150 million and 10.2x UHS’s forecasted 2019 Adjusted EBITDA of approximately $170 million, in each case, based on the higher end of UHS’s forecasted Adjusted EBITDA range.