Ontario Teachers buys PetVet Care Centers from Catterton Partners
Teachers' Private Capital, the private equity investment arm of the Ontario Teachers' Pension Plan, has acquired PetVet Care Centers, an operator of specialty and general practice animal hospitals in the United States. The financial terms of the deal were not released, however, The Wall Street Journal reported the value at about US$440 million. Teachers bought its stake in the company from U.S. private equity firm Catterton Partners, which invested in PetVet in 2012. Catterton will retain a minority interest along with the Westport, Connecticut-based company's CEO. Teachers said it will continue building PetVet through acquisitions and organic growth.
8 January 2015•2 mins read
