H.B. Fuller has agreed to acquire Advanced Medical Solutions Group in a £659m ($870m) all-cash deal, according to a report by Bloomberg.
The U.S. adhesives maker will pay 285 pence per share for the UK-listed medical technology company, a price that represents a roughly 35% premium to AMS’s closing share price on May 20, the day before takeover talks became public. Including debt, the transaction values the business at approximately £715m.
The acquisition expands H.B. Fuller’s presence in the medical adhesives market by adding AMS’s portfolio of surgical adhesives, wound care products, tissue-healing technologies and biosurgical solutions. The combined business is expected to benefit from broader manufacturing, research and commercial capabilities across North America, Europe and Asia.
H.B. Fuller expects the transaction to deliver approximately $55m in annual run-rate cost and revenue synergies by 2031 through procurement savings, manufacturing efficiencies and cross-selling opportunities. The company also expects the acquisition to strengthen its healthcare segment and improve long-term profitability.
The deal follows months of takeover interest in Advanced Medical Solutions, which had also attracted attention from private equity firms, including TA Associates. TA withdrew from the process in May without making a formal offer.
The transaction is expected to close before the end of 2026, subject to shareholder approval, regulatory clearances and customary closing conditions.
