RECENT RELEASES
VetCor-
Business
Founded in 1997, VetCor manages over 700 veterinary hospitals across 40+ states. VetCor hospitals provide a full range of general medical and surgical services for pets, as well as pharmacy needs and ancillary services such as boarding, grooming, and pet products. The Company has distinguished itself by promoting the local identity of each hospital, offering a family friendly work environment, providing management, training and administrative support to its hospitals, and relying on the veterinarians of each hospital to manage their medical direction.
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Harvest Partners Investment
In April 2015, Harvest Partners and Cressey & Company led the recapitalization of VetCor in partnership with management. To fund the acquisition, Harvest Partners and Cressey & Company provided equity capital and arranged the debt financing.
In July 2018, Harvest Partners in partnership with Oak Hill Capital Partners and Cressey & Company recapitalized VetCor.
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Investment Thesis
- Large, fragmented, and growing veterinary services market
- Attractive business model with strong, stable cash flows
- Scarce, scale platform with a proven acquisition and integration strategy
- Committed and talented management team with a track record of success
