Charlesbank Deals Animal Health

Lextron Inc., the Colorado-based animal health product distributor, has acquired Animal Health International from Charlesbank Capital Partners. The exit comes after a six-year hold for the Massachusetts-based private equity firm. Charlesbank Capital Managing Director Brandon White worked on the investment in Animal Health International for the private equity firm.


BOSTON, MA, Jun 13, 2011 — Charlesbank Capital Partners announced today that portfolio company Animal Health International Inc. (AHII) has been purchased by Lextron, Inc. of Greeley, CO. Animal Health International (AHI) is one of the largest distributors of animal health products in the United States.
Founded in 1954, AHI purchases a wide array of pharmaceuticals, biologicals and other animal health products from more than 1,500 manufacturers. AHI’s diverse customer base (over 71,000) includes veterinarians, production animal operators and animal health product retailers. The company reported revenue of $670 million for 2010.
Charlesbank acquired AHI in 2005 in conjunction with management and obtained a controlling interest in the equity. During its ownership period, Charlesbank partnered with management to evolve the business both strategically and financially, working closely to develop a growth strategy, accomplish several important acquisitions and guide the company through a successful 2007 IPO.
Jim Robison, AHI’s CEO, said, “Charlesbank has been an invaluable partner to us. Over the past six years, they have provided us with sound strategic advice and played a pivotal role in our development as a public company.”
Brandon White, managing director at Charlesbank, said, “We have been impressed by AHI’s growth under Jim Robison’s leadership. AHI’s strong relationships with suppliers and customers and its market-leading position will serve the combined company well in the future. We are very pleased with the success of AHI and with the return for our shareholders.”
About Charlesbank Capital Partners Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing $50 million to $150 million per transaction in companies with enterprise values of $100 million to $750 million. The firm seeks to partner with strong management teams to build companies with sustainable competitive advantages and excellent prospects for growth. For more information, visit