Tyree & D'Angelo Partners Secures Minority Growth Investment in Western Veterinary Partners Led by LGT, Hamilton Lane and Apogem

Tyree & D'Angelo Partners Launch Continuation Fund for Western Veterinary Partners (anchored by HarbourVest)

November 4, 2025

Healthcare Services

Tyree & D'Angelo Partners (TDP) closed a single-asset continuation transaction to extend its investment in Western Veterinary Partners, raising new capital to support Western's organic growth and upcoming acquisitions. The continuation fund was anchored by HarbourVest Partners, with additional commitments from Ares Private Equity Secondaries funds, a syndicate of investors, and TDP's existing limited and general partners.

Gryphon Investors Majority Recapitalizes Heartland Veterinary Partners

December 12, 2019

Veterinary

Gryphon Investors has made a majority recapitalization investment in Heartland Veterinary Partners, a Chicago-based veterinary support organization with nearly 100 practices and over 200 veterinarians. Tyree & D'Angelo Partners and Heartland management retain minority stakes; Varagon Capital Partners led financing for the transaction. Terms were not disclosed.

Leonard Green & Partners Makes Minority Investment in MedVet; Oak Hill Provides Senior Term Loan

June 25, 2024

Veterinary

MedVet LLC received a minority capital investment from Leonard Green & Partners, L.P., alongside a senior term loan provided by Oak Hill Advisors to support the company's continued growth in specialty and emergency veterinary care. The financing will accelerate expansion of MedVet's services while providing liquidity for minority shareholders from the 2019 investment and partial liquidity for some employee owners; Huntington Bank will continue to provide treasury and cash management services.

TSG Consumer Partners Acquires Majority Stake in Pathway Vet Alliance

April 3, 2020

Healthcare Services

TSG Consumer Partners has acquired a majority stake in Pathway Vet Alliance from investment funds managed by Morgan Stanley Capital Partners. Pathway management will remain in place and retain a significant minority stake; TSG intends to leverage its consumer and branding expertise to scale Pathway's multi-site veterinary and MSO platform across the U.S.

TSG Consumer Partners Acquires Majority Stake in Pathway Vet Alliance

May 20, 2023

Veterinary

TSG Consumer Partners has acquired a majority stake in Pathway Vet Alliance from investment funds managed by Morgan Stanley Capital Partners (MSCP); Pathway management will continue to lead the company and retain a significant minority interest. Pathway is a multi-site operator of more than 270 general practice, specialty and emergency veterinary hospitals and 86 THRIVE clinics in the United States, and also operates Veterinary Growth Partners, an MSO serving ~5,500 member hospitals.

Leonard Green & Partners Acquires Majority Stake in Velvet Taco

November 30, 2021

Restaurants & Hospitality

Leonard Green & Partners (LGP) acquired a majority stake in Velvet Taco from L Catterton and FB Society, with L Catterton and FB Society retaining significant minority ownership. The Dallas-based fast-casual taco chain will work with LGP to support continued national expansion (the brand had nearly 30 locations at the time of the transaction and expected to exceed 40 by end of 2022).