Veterinary Acquisitions in 2024

L Catterton Latin America has made a strategic growth investment in WeVets, an independent veterinary hospital group in Brazil. The capital will support WeVets' continued expansion of hospitals and diagnostic labs across Brazil through both acquisitions and organic growth.

Phibro Animal Health Corp. has completed the acquisition of Zoetis Inc.'s medicated feed additive product portfolio and certain water‑soluble products. The deal transfers more than 37 product lines, six manufacturing sites (U.S., Italy, China) and a team of over 300 employees to Phibro, expanding its species coverage and product capabilities across cattle, swine and poultry.

French animal health equipment maker IMV Technologies has acquired UD-Vet B.V., a Benelux-based provider of veterinary practice equipment and imaging solutions. The deal brings UD-Vet's team and product/service offering into IMV's Companion Animal business to consolidate and expand IMV's presence in the Benelux region.

Los Angeles-based private investment firm Carmelina Capital Partners has completed a growth investment in KVP International, a McKinney, Texas–headquartered manufacturer and supplier of veterinary and small-animal wellness products. KVP's CEO Ken Bowman will remain in place as the company pursues product innovation, capacity expansion and add-on acquisitions supported by Carmelina's capital and partnership.

Charme Capital Partners (via its Charme IV fund) has agreed to take a 56% stake in Animalia through a capital increase, partnering with founders Antonino Santalucia and Giorgio Romani who will remain co-CEOs and minority shareholders. The investment will fund Animalia's consolidation and organic growth plan—including targeted add‑ons and expansion of clinic services—across its network of more than 75 clinics in Italy.

Revival Animal Health, a portfolio company of Incline Equity Partners, has acquired Equine Medical and Surgical Associates to expand its equine product offerings. Revival — based in Orange City and backed by Incline — was advised by Blue River Financial Group on the add-on acquisition; Equine Medical & Surgical develops and distributes all-natural equine supplements.

WagWay Group, a platform company of Access Holdings, announced a partnership to bring Pawville — a Southeast U.S. provider of boarding, daycare, grooming, training and veterinary centers — into the WagWay network. The deal expands WagWay's footprint into suburban Southeastern and Mid-Atlantic markets and adds veterinary medical center capabilities to the platform.

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.

Destination Pet, a Highlands Ranch, Colorado-based national pet care network, has acquired PawPrints of Vero Beach, a high-end dog resort in Vero Beach, Florida. CDI Global advised PawPrints' management on the divestiture; the acquisition expands Destination Pet’s boarding/daycare and premium pet services footprint within its 150+ location network.

Mixlab has acquired NexGen Animal Health, a Weatherford, Texas-based veterinary compounding specialist, to expand its sterile and non-sterile formulation capabilities into equine, exotic, wildlife and zoo markets. The acquisition — completed with continued financial backing from Vanterra Ventures and other investors — adds a fourth pharmacy location in Texas and enables Mixlab to leverage its proprietary eMix platform to increase production efficiency and broaden its large-animal offering.

Swifto, a technology-driven pet care operator, has acquired Wagz 'n Whiskerz, a dog walking and pet-sitting business in the Lake Norman / Huntersville area of North Carolina. The deal gives Swifto its third-state footprint (joining New York City and Miami), preserves local staff, and will integrate Swifto's GPS tracking and real-time updates to scale services locally.

Better Choice Company (NYSE: BTTR) has acquired all issued and outstanding common shares of Aimia Pet Healthco Inc. The acquisition gives Better Choice in-house control of Aimia's GLP-1 related R&D and enables the company to manage clinical trials and develop weight-loss supplements/treatments for pets under its Halo brand.

Merck Animal Health has agreed to buy Elanco Animal Health's aqua business for approximately US$1.3 billion in cash. The divestiture — which includes marketed brands, R&D projects, manufacturing sites in Prince Edward Island (Canada) and Dong Nai (Vietnam), and roughly 280 commercial and manufacturing employees — will allow Elanco to focus on higher-growth pet and livestock markets and use proceeds to pay down debt.

Pet Resort Hospitality Group (a platform formed by Queens Court Capital and Trivest Partners) has acquired five pet resort brands — Meadowlake Pet Resort and Training Center, Olde Towne Pet Resorts, Playtime Pet Resort, Paws ‘n’ Rec, and Williamsburg Pet Hotel & Suites — expanding the platform to 17 locations. The transactions bring experienced founder- and family-owned operators into the PRHG portfolio as part of a buy-and-build strategy to scale daycare, boarding, grooming, and training services across the U.S.

Veterinary Pharmaceutical Solutions (VPS), a Granite Creek Capital Partners portfolio company, acquired Diamond Animal Health from Mars Corporation. Granite Creek supported the deal with a follow-on investment from its FlexCap II fund, creating an integrated animal health platform combining VPS's compounding capabilities with Diamond's contract manufacturing and vaccine production.