ST.
LOUIS, July 9, 2024 /PRNewswire/ -- CareVet,
a network of 200 veterinary hospitals across more than 35 states,
today announced it has closed on a new credit facility with funds
managed by BDT & MSD Partners, a merchant bank built to serve
the distinct needs of business owners and strategic, long-term
investors. This strategic move is designed to support CareVet's
continued growth and provides significant incremental capital for
continued expansion efforts. This credit facility positions
CareVet, a portfolio company of Compass Group Equity Partners, to
better capitalize on market opportunities and further strengthen
its presence within the veterinary industry.
"We're excited to have this completed and provide the fuel for
the next chapter of CareVet," said Greg
Siwak, CEO of CareVet. "Our partnership with BDT & MSD
enables us to accelerate our growth trajectory and expand our
footprint even more aggressively."
"CareVet is a fast-growing, founder-led company, and we are
thrilled to support its next phase of growth," said Simon Crocker, Managing Director, BDT & MSD.
"Led by our local St. Louis team,
this transaction reflects our commitment to providing creative
financing solutions to our lending partners in an important U.S.
market."
Since its launch in 2018, CareVet has experienced
substantial growth. The veterinary practice management group's
network has grown to more than 2,500 Team Members across their
locations. The collaboration with BDT & MSD marks a significant
milestone in CareVet's journey, paving the way for continued
success.
About CareVet:
CareVet is a leading operator of veterinary hospitals across 35+
states with more than 2,500 Team Members. Founded in 2018 by Dr.
Kent Thornberry, a DVM who built and
grew two of his own veterinary hospitals before selling them to two
separate veterinary practice management groups and Greg Siwak, a highly regarded entrepreneur.
Together, they felt there was a better operating model for
hospitals anchored in a deep commitment and investment in the teams
that serve their clients and pets. CareVet is privately held and
headquartered in St. Louis,
Missouri. It can be visited at CareVetHealth.com and
followed on LinkedIn at @CareVet-Health and Facebook at
@CareVetHealth.
About BDT & MSD Partners
BDT & MSD Partners is a merchant bank with an advisory and
investment platform built to serve the distinct needs of business
owners and strategic, long-term investors. The firm is
distinguished by its decades of experience advising at the
intersection of founders, families, and businesses, as well as by
its differentiated capital base and culture of aligned investing.
Its funds are managed by its affiliated investment advisors, BDT
Capital Partners and MSD Partners.
For media inquiries or further information, please
contact:
Emma Ehll
marketing@carevethealth.com
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SOURCE CareVet