Veterinary Acquisitions in Texas

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.

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.

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.

Patterson Companies, through a subsidiary, has signed an agreement to acquire substantially all of the assets of Relief Services for Veterinary Practitioners (RSVP) and Animal Care Technologies (ACT), two Texas-based businesses that provide data conversion, staffing and video-based training services to veterinary practices. The acquired businesses will be integrated into Patterson Veterinary to expand its value‑add platform; terms were not disclosed and the deal is expected to close in Patterson's third fiscal quarter of FY2023.

Animal Dermatology Group (ADG), the largest U.S. group of veterinary dermatology specialists, has signed a definitive agreement to acquire Austin Veterinary Dermatology & Allergy (AVDA), a specialty veterinary dermatology practice in Austin, Texas. The deal will integrate AVDA into ADG's nationwide network, expanding ADG's specialty dermatology presence in Central and North Austin; terms were not disclosed.

Avanti Equine Veterinary Partners acquired Irving, Texas–based Animal Imaging on December 22, 2021, marking Avanti's first location in Texas. The equine practice network also acquired California-based Steinbeck Peninsula Equine Clinic as part of its national expansion to provide management and operational and administrative support to partner practices.

CityVet, a Dallas-based network of veterinary-owned practices, acquired River City Companion Animal Hospital in San Antonio, Texas, expanding its San Antonio footprint to four locations. The clinic, led by Dr. Chris Kohnen, will continue to operate under its current name; terms were not disclosed.

Pet care platform One Vet has acquired Veterinarians.org, an informational website that provides up-to-date veterinary health information for pet parents. The acquisition will integrate Veterinarians.org's content into One Vet’s platform to help make veterinary care more accessible, faster, and more affordable for pet owners.

Animal Dermatology Group, Inc. (ADG) has acquired Animal Allergy and Dermatology Center, a veterinary specialty practice in Austin, Texas. The clinic will operate as Animal Dermatology Clinic – Austin and the team led by Patrick Nichols, DVM will join ADG to expand the group’s dermatology coverage in central Texas.

CityVet, a Dallas-based network of veterinarian-owned practices, acquired Alamo Ranch Animal Hospital in northwest San Antonio effective May 21, 2021. The transaction expands CityVet’s footprint in the San Antonio market as part of an aggressive Texas growth strategy; financial terms were not disclosed.

Dallas-based CityVet, a network of branded, veterinarian-owned practices, acquired Country Hills Veterinary Clinic in Bulverde, Texas effective March 1, 2021. The deal expands CityVet into the San Antonio market as part of its broader Texas growth strategy; Country Hills will continue to operate under its current name and partner with CityVet's operating platform.

Destination Pet, a pet health and services platform backed by LetterOne (L1 Health), has completed the acquisition of VitalPet. The deal adds 24 veterinary hospitals and approximately 420 employees across seven states to Destination Pet's network, expanding its veterinary, boarding, grooming and training services footprint.

Metalmark Capital has acquired Innovetive Petcare, a Cedar Park, Texas-based operator of veterinary hospitals, from Prospect Partners. Innovetive operates 13 clinics across five states and will continue to be led by its existing executive team as Metalmark looks to support the platform's next phase of growth.