AmeriVet Veterinary Partners (AmeriVet), a consolidator of US veterinary practices, has closed a USD1.6 billion recapitalisation with funds managed by AEA Investors LP (AEA) and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) acquiring the company from Imperial Capital Group (Imperial Capital).
AmeriVet’s recapitalisation was a resounding success for both investors and joint venture partners. Investors in AmeriVet, including the majority investor, Imperial Capital, earned a 6.6 times multiple of capital on their investment. As part of the recapitalisation, AmeriVet’s DVM partners were able to participate at the Company’s platform multiple and monetise their retained joint venture ownership at a premium valuation.
The majority of these partners elected to reinvest a significant portion of their proceeds into the Company. AmeriVet will continue to offer the joint venture model to incoming partners who are interested in experiencing similar growth and success by remaining invested in their practice.
