Audax Private Equity has announced a strategic growth investment in Veterinary Practice Partners (VPP), a leading veterinary practice management group. VPP, previously a portfolio company of Pamlico Capital, is dedicated to transforming the pet health industry by delivering exceptional service and superior care to pets and their families. This investment is set to significantly enhance VPP’s strategic partnerships with veterinarians.
Veterinary Practice Partners operates with the core mission of collaborating with animal hospitals, enabling them to concentrate on delivering outstanding patient care and client service. VPP’s unique co-ownership model allows veterinarians across its network of over 85 practices in more than 20 states to focus on clinical excellence and cultivate a strong hospital culture. These practices collectively care for over 200,000 patients. By providing comprehensive operational support in areas such as learning and development, HR and recruiting, marketing, technology, and finance, VPP ensures its veterinary practice partners are fully supported.
John McDonough, CEO of VPP, expressed enthusiasm about the new partnership, stating, “We are thrilled to partner with Audax and leverage their extensive expertise in the healthcare and consumer sectors. This collaboration will empower us to better address the evolving healthcare needs of pet families and expand our hospital network and service offerings. Importantly, we remain committed to nurturing strong relationships with our doctors, upholding premium quality pet care, and delivering outstanding client service.”
Adam Abramson, Managing Director at Audax, also commented on the investment: “We commend the VPP management team for their success in building an impressive business and fostering a partnership-centric culture throughout the company. VPP’s strong momentum and unique co-ownership and development opportunities for doctor-partners are truly compelling. We are excited to support John and the VPP team in their next phase of growth.”
The transaction involved William Blair and Cain Brothers acting as financial advisors, and Alston & Bird LLP as legal advisor to Pamlico and VPP. Ropes & Gray LLP served as legal counsel to Audax, with Guggenheim Securities, LLC as their advisor. The specific terms of the investment were not disclosed.
About Audax Private Equity
Audax Group is a prominent alternative investment manager with a strong presence in Boston, New York, and San Francisco. Founded in 1999, Audax has raised over $30 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has a substantial investment portfolio, including over $7 billion invested in more than 140 platform companies and over 1000 add-on companies. The firm is currently deploying capital from its $3.5 billion sixth private equity fund. Audax Private Equity employs a disciplined Buy & Build strategy, focusing on supporting platform companies through add-on acquisitions to drive revenue growth, optimize operations, and enhance equity value. With over 300 employees, Audax is a leading capital provider to North American middle market companies. For more information, please visit www.audaxprivateequity.com or connect with them on LinkedIn.
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