OPTrust acquires minority stake in Imperial Capital-backed AmeriVet


© 2019 AmeriVet

OPTrust has made a minority investment in AmeriVet Veterinary Partners, a San Antonio, Texas-based veterinary clinic management business.

Terms weren’t disclosed. AmeriVet is a portfolio company of Imperial Capital Group, a Canadian mid-market private equity firm. Imperial helped launch the company in 2016.

AmeriVet acquires majority positions in U.S. veterinary practices and supports their operations. At present, it has interests in 33 practices in 15 states.

The $20-billion OPTrust invests and manages Canada’s OPSEU Pension PlanSandra Bosela, managing director and global head of private equity, said the investment will back further growth of the AmeriVet platform.

PRESS RELEASE

AmeriVet Veterinary Partners Announces Minority Investment from OPTrust

June 14, 2019

SAN ANTONIO–(BUSINESS WIRE)–AmeriVet Veterinary Partners (“AmeriVet”) is pleased to announce that a substantial minority investment has been made in the business by OPTrust, one of Canada’s largest defined benefit pension plans. Imperial Capital Limited (“Imperial”), the company’s majority investor, has also increased its investment. This additional capital will support AmeriVet’s goal of entering into additional partnerships with leading veterinarians across the United States.

AmeriVet’s unique business model of acquiring veterinary practices through a joint venture partnership allows veterinarians to retain a stake in their business, maintain control of day-to-day operations and still participate in the upside when they ultimately exit the business, while simultaneously benefiting from the ability to leverage operational and industry best practices as part of a larger team of veterinarians. To date, AmeriVet has acquired majority ownership positions in 33 veterinary practices in 15 states.

“This transaction is a strong validation of AmeriVet’s business model and our mission to provide veterinarians with a better option than selling 100% of their practice,” said Thomas Thill, President and CEO of AmeriVet. “With this additional capital and strong partnership with OPTrust, AmeriVet will be able to reach more veterinarians and add to our network of partner practices across the country.”

Sandra Bosela, Managing Director and Global Head of Private Equity of OPTrust, added, “AmeriVet has established itself as a leading veterinary services company with a differentiated joint venture acquisition model. We look forward to working with the management team as we support the growth of the AmeriVet platform.”

“We are pleased to once again partner with OPTrust,” said Justin MacCormack, Managing Partner at Imperial. “We appreciate their support of our investment strategy and we are confident that they will make a meaningful contribution to AmeriVet as they have with other Imperial platforms in which they have invested.”

AmeriVet was launched in late 2016 as part of Imperial Capital Acquisition Fund VI. This is OPTrust’s third co-investment with Imperial.

For more information on AmeriVet or the opportunity to partner with company, please contact Thomas Thill, [email protected], (855) 621-2500.

About AmeriVet

AmeriVet, founded in 2016 and headquartered in San Antonio, Texas, has majority ownership in 33 veterinary practices in 15 states. The company prides itself on its partnership model of veterinary practice ownership, encouraging veterinarians to maintain ownership in their practice while benefiting from the operational tools and best practices that AmeriVet has developed. AmeriVet is focused on acquiring majority ownership positions in well run, high quality and ethical veterinary practices across America. For more information, visit www.amerivet.com.

About OPTrust

A fully funded plan with net assets of almost $20 billion as of December 31, 2018, OPTrust invests and manages one of Canada’s largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with almost 95,000 members and retirees. OPTrust is a global investor in a broad range of asset classes including Canadian and foreign equities, fixed income, real estate, infrastructure and private markets, and has a team of highly experienced investment professionals located in Toronto, London and Sydney. As a pension management organization, OPTrust’s mission is to pay pensions today, preserve pensions for tomorrow. For more information, visit www.optrust.com.

About Imperial Capital

Toronto-based, Imperial Capital is a leading lower middle market private equity firm focused on North American opportunities to build or acquire growth-oriented platform investments in targeted industry niches within healthcare, business and consumer services industries. Drawing from its seventh fund, Imperial Capital combines its deep industry focus, active portfolio management, and strong partnerships with experienced industry executives to offer a differentiated approach to investing. For more information, visit www.imperialcap.com.

Contacts

Thomas Thill
AmeriVet Veterinary Partners
855-621-2500

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