Align Capital Partners has recapitalized Custom Veterinary Services, a contract manufacturer of custom-formulated nutritional, dermatological, and grooming products for the animal health market. No financial terms were disclosed. BellMark Partners advised CVS on the deal.
CLEVELAND and DALLAS, March 31, 2021 – Align Capital Partners (“ACP”) is pleased to announce the majority recapitalization of Custom Veterinary Services (“CVS” or the “Company”), a custom formulator and contract manufacturer exclusively focused on the animal health industry. The Company’s FDA-registered facility in Miami, Florida produces nutritional supplements, dermatological, and grooming products for companion animals.
Founded by Ruben Martinez in 2005, CVS serves customers ranging from well-established animal health organizations to prospering e-commerce-focused brands. Under Ruben’s leadership, the Company has partnered with over 100 clients to date; working with them to identify their product needs, develop formulations, establish packaging, and scale up to production. “CVS’ commitment is to produce the highest quality products and service for our customers,” said Martinez, President of CVS. “Our customers are growing rapidly, and we sought a partner to help us expand and further meet our customers’ needs. ACP and Worth Turner have a successful track record of helping companies like CVS grow and share our vision of being the best contract manufacturing partner for the animal health industry.”
Concurrent with closing, Worth Turner joined CVS as a shareholder and CEO, where he will focus on helping CVS scale to serve growing customer needs. “Ruben and his family have built CVS into a market-leading contract manufacturing organization (CMO) with innovative R&D capabilities. I’m excited for the opportunity to partner with the entire CVS team to create the best-in-class CMO for the animal health sector,” Turner said. Prior to CVS, Worth served as President of Colorado Quality Products (a personal care products CMO), where he more than tripled sales as President.
“We’re enthusiastic about the combined partnership of Ruben, Worth, and ACP,” said ACP Managing Partner Rob Langley. “CVS is at an inflection point where additional capital and growth-related expertise will help drive the leadership team’s goal of becoming the best provider in the sector. We are thrilled to partner with the team and Worth in pursuit of this goal.” CVS is ACP’s second investment in the animal health sector, following the firm’s 2020 investment in VetEvolve, a multi-site owner and operator of veterinary clinics on the East Coast.
Operating Partner Bill White, Principal Jack Parks, Vice President Kurt Smentek, and Associate Aaron Lewis worked alongside Mr. Langley on the transaction. CVS was advised on the transaction by BellMark Partners.
About Custom Veterinary Services
Custom Veterinary Services is a premier contract manufacturer of custom-formulated nutritional, dermatological, and grooming products for the animal health market. CVS develops and manufactures a comprehensive range of made-to-order health and wellness products for dogs, cats, and horses. Leveraging a leading reputation for quality, innovation, and customer service, CVS is the reigning National Animal Supplement Council (NASC) Supplier of the Year and has formed trusted relationships with a diversified base of blue-chip customers, ranging from large veterinary pharmaceutical companies to leading pet care and nutrition brands. For more information, visit customvetservices.com.
About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. ACP invests in differentiated companies within the business services, technology, specialty manufacturing and distribution and healthcare sectors. For more information, visit aligncp.com.