Main Street Capital Corporation has recapitalized two animal veterinary companies, Nebraska Veterinary Services and Heritage Animal Health. No financial terms were disclosed. Bridgepoint Investment Banking was financial advisor to NVS and Heritage. Main Street Capital also provided growth capital in addition to the recapitalization.
January 12, 2021 – West Point, NE – Bridgepoint Investment Banking (“Bridgepoint”) acted as the exclusive financial advisor and financing arranger to Nebraska Veterinary Services (“NVS”) and Heritage Animal Health (“Heritage”) on their minority recapitalization and growth debt capital raise to Main Street Capital Corporation (“NYSE: MAIN”). Main Street provided growth equity, a unitranche facility and a delayed draw term loan to the management of NVS and Heritage to support their growth and acquisition strategy.
Bridgepoint Managing Director Gary Grote commented, “This was an exhilarating process, culminating in a combination of Main Street’s robust and creative financing structure with Dr. David Gnad’s visionary leadership that will undoubtedly prove to be a game-changing platform in the highly fragmented mixed-animal veterinary space. Dr. Gnad and his management team’s expertise and connections in the industry are unmatched.”
“Bridgepoint proved to be incredibly resourceful in advising Nebraska Veterinary Services. Their understanding of the animal health industry and their contacts within the private equity and debt world enabled Bridgepoint to run a highly effective and fast-paced process with excellent results. We feel quite optimistic about the growth that’s ahead for this new partnership,” said Dr. Gnad.
ABOUT BRIDGEPOINT INVESTMENT BANKING
Bridgepoint Investment Banking, a division of Bridgepoint Holdings NE, LLC, is a market-leading boutique investment bank. The Bridgepoint team, through their broker dealer relationship with M&A Securities Group, Inc., an unaffiliated entity, serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors including veterinary services.
To learn more about Bridgepoint Investment Banking, please visit bridgepointib.com.
ABOUT NEBRASKA VETERINARY SERVICES
Founded in 1985, NVS is a mixed-animal veterinary practice headquartered in West Point, NE that offers both production and companion animal services to its producers and customers. Learn more about NVS at nebraskavetservices.com.
ABOUT HERITAGE ANIMAL HEALTH
Heritage is a leading animal health products supplier and veterinarian service provider based in Wisconsin. Founded in 2018, Heritage Animal Health brings together companies and people who have been part of the animal health landscape for decades.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.