Thompson Street Capital Partners (TSCP), a private equity firm based in St Louis, has completed the sale of Vetio Animal Health (Vetio), a leading Animal Health Contract Development Manufacturing Organization (CDMO) in North America, to Swedencare AB. Vetio specialises in complex drug product formulation and manufacturing of veterinary pharmaceutical, supplement, and dermatology products. TSCP was advised by Sidley Austin and Stifel.
During its ownership of Vetio, TSCP supported the Company’s growth by expanding its manufacturing capabilities to meet the specific needs of animal health companies, including opening new manufacturing facilities in Montreal, Canada and Florida, rebranding the business, and acquiring Montreal, Quebec-based TetraGenx (TGX), resulting in expanded service capabilities.
John Kane, CEO and Board Member of Vetio, says: “We thank TSCP for their collaborative partnership as we grew the business through operational improvements and strategic acquisitions. We are confident Swedencare’s purchase of Vetio positions the Company for continued growth with the same level of safety, quality and compliance.”
Mike Smith, Vice President and Board Member of Vetio, adds: “After meeting TSCP, John and I, together with TSCP, dedicated significant time and effort searching for the right way to build a differentiated CDMO and found it with our first acquisition of Tropichem Research Labs, which eventually became Vetio. The partnership has been exciting and valuable over the past several years.”
“Vetio has been a ‘buy and build’ platform for TSCP in an exciting area of healthcare and life sciences. Working in close partnership with Vetio’s talented management team, we accelerated revenue growth and executed on several key strategic initiatives,” says Matt Scherrer, Managing Director at TSCP and outgoing Chairman of Vetio. “We achieved our goal of establishing Vetio as a single-source partner for successful product approval, commercialisation, and ongoing supply.”
