Veterinary Acquisitions in Maine

Funds affiliated with Clayton, Dubilier & Rice (CD&R) and TPG Capital agreed to acquire all outstanding shares of Covetrus for $21.00 per share in cash, implying an enterprise value of approximately $4.0 billion. The transaction, which closed in October 2022, takes Covetrus private; the company will continue to be led by CEO Benjamin Wolin and remain headquartered in Portland, Maine.

Rarebreed Veterinary Partners, a Portland, Maine-based technology-enabled animal health platform, acquired a majority stake in Maine Veterinary Medical Center (MVMC), a 20,000-square-foot specialty/referral veterinary hospital in Scarborough, Maine. MVMC employs about 150 veterinary professionals (including 21 specialty doctors); as part of the deal MVMC doctors and staff received equity alongside Rarebreed, and deal terms were not disclosed.