VetCor, a leading veterinary consolidator, recently ANNOUNCED it has acquired People, Pets, & Vets (PPV), a consolidator with more than 150 animal hospitals located throughout the western and southern United States.
VetCor owns and operates 549 practice locations across 40 states including Canada. The company is currently led by Chief Executive Officer Chris Strong (who was the previous CEO of PPV).
RELATED:
- PRESS RELEASE: VetCor Acquires People, Pets & Vets (9.7.22)
https://www.prnewswire.com/news-releases/vetcor-acquires-people-pets–vets-301618707.html- VetCor, a portfolio company of funds managed by Harvest Partners, LP and Cressey & Company LP.
- Vet chain People Pets & Vets is for sale (4.8.22)
https://www.axios.com/pro/health-tech-deals/2022/04/08/people-pets-vets-sale- Approximately $80 million of fully adjusted EBITDA is marketed for the veterinary services company, sources say.
- Based on the high teens to 20x-plus EBITDA multiples at which other vet companies have traded, that suggests a deal could value People, Pets & Vets up to some $1.5 billion.
- Oak Hill Capital Partners leads recapitalization of VetCor alongside Harvest Partners, Cressey & Company, and Management (6.15.18)
https://www.prnewswire.com/news-releases/oak-hill-capital-partners-leads-recapitalization-of-vetcor-alongside-harvest-partners-cressey–company-and-management-300666843.html- Oak Hill Capital Partners (Oak Hill) led the transaction alongside significant new investment from existing shareholders Harvest Partners, LP (“Harvest”), Cressey & Company, LP (“Cressey”), and the VetCor management team. Terms of the transaction were not disclosed.
CEOs of Corporate Consolidators:
https://www.pets.care/list-of-chief-executive-officers-of-veterinary-consolidators/
- Study conducted by CARE for Pets™ reveals that the majority of veterinary consolidators are led by non-veterinarians.