A partnership comprised of funds managed The Blackstone Group, The Carlyle Group and Hellman & Friedman will make a majority investment in Medline Industries, according to a news release.

Medline, based in Northfield, Ill., is a manufacturer and distributor of healthcare supplies. The company reported 2020 revenue of $17.5 billion.

The Blackstone Group, based in New York, targets investments in established and growth-oriented businesses. Founded in 1985, the firm has more than $200 billion private equity assets under management.

The Carlyle Group, with its U.S. headquarters in Washington, D.C., is a global investment firm that deploys private capital across three business segments: global private equity, global credit and investment solutions. Founded in 1987, the firm targets companies in healthcare and many other industries.

Hellman & Friedman, based in San Francisco, is a private equity firm focused on making large-scale equity investments. Founded in 1984, the firm targets investments in healthcare and several other industries.

Singapore’s sovereign wealth fund — GIC — is also part of the investing partnership.

Medline will continue to be led by the Mills family, who will remain the largest single shareholder.

Terms of the acquisition were not disclosed.