AEA Investors and ADIA Recapitalize AmeriVet Veterinary Partners

Undisclosed Financial Sponsor Completes Majority Recapitalization of Heritage Vet Partners

May 12, 2025

Healthcare Services

Main Street Capital Corporation fully exited its debt investments and partially exited its equity stake in Nebraska Vet AcquireCo, LLC (d/b/a Heritage Vet Partners) after a majority recapitalization led by a new, unnamed financial sponsor. Main Street realized a $55.5 million gain and received a minority equity position in the acquirer; Heritage, headquartered in West Point, Nebraska, is a national provider of rural, mixed- and large-animal veterinary services and products.

Varsity Healthcare Partners Acquires VetEvolve from Align Capital Partners

October 16, 2023

Veterinary

Varsity Healthcare Partners completed a strategic growth investment to acquire VetEvolve, a Richmond, Virginia-based multi-location veterinary care platform. The transaction was a sale by Align Capital Partners; VetEvolve operates 32+ clinics across the Mid-Atlantic and employs over 600 team members, and VHP will partner with management to expand the platform into new geographies.

Petra Capital Partners and Canopy Capital Partners Complete Growth Recapitalization of American Vascular Associates

April 26, 2023

Healthcare Services

American Vascular Associates (AVA), a Palm Harbor, Florida-based network of outpatient vascular and endovascular centers, completed a growth recapitalization with Petra Capital Partners and Canopy Capital Partners. The investment will support AVA's accelerated growth, expansion of outpatient labs and ambulatory surgery centers, and additional physician partnerships while existing management remains shareholders.

AmeriVet Veterinary Partners Acquires Northeast Veterinary Partners

October 31, 2022

Veterinary

AmeriVet Veterinary Partners (San Antonio, TX) acquired 14 veterinary practices from Northeast Veterinary Partners in a buyout announced October 11, 2022, marking the first time AmeriVet has purchased another veterinary consolidator. The deal expands AmeriVet’s clinic network (bringing it to about 186 clinics at the time) and adds locations across New Hampshire, Massachusetts, Vermont, California and Maine as part of its ongoing consolidation and network expansion strategy.

Align Capital Partners Majority Recapitalizes Custom Veterinary Services

March 31, 2021

Veterinary

Align Capital Partners (ACP) has completed a majority recapitalization of Custom Veterinary Services (CVS), a Miami-based contract manufacturer and custom formulator of nutritional, dermatological, and grooming products for companion animals. As part of the transaction, industry executive Worth Turner joined CVS as a shareholder and CEO to help scale operations, while founder Ruben Martinez and family remain involved; ACP intends to provide capital and growth expertise to expand the company's manufacturing and R&D capabilities.

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.