Shore Capital forms veterinary practice platform

Shore Capital Partners has formed Southern Veterinary Partners through the recapitalization of three veterinary practices. The firm completed the platform through the recapitalization of Oak View Animal Hospital, Patton Chapel Animal Clinic and Williams Animal Hospital. Birmingham, Alabama-based Southern Veterinary Partners provides general practice veterinary services including vaccinations, surgery, wellness exams, oncology, ophthalmology, allergy treatment and dermatology. Jay Price, a veterinarian and owner of Oak View, Patton Chapel and Williams, will be chief executive officer of the platform.

Press Release

Shore Capital Partners (“Shore Capital” or “Shore”) is pleased to announce that it has completed the recapitalization of Oak View Animal Hospital (“Oak View”), Patton Chapel Animal Clinic (“Patton Chapel”), and Williams Animal Hospital (“Williams”) to form Southern Veterinary Partners (“SVP” or the “Company”). The Company provides general practice veterinary services to companion animals including vaccinations, surgery, wellness exams, oncology, ophthalmology, allergy treatment and dermatology.

Headquartered in Birmingham, Alabama, Southern Veterinary Partners plans to pursue a roll-up of animal hospitals in the Southeast. Shore has partnered with Dr. Jay Price, a veterinarian and the owner of Oak View, Patton Chapel and Williams, to be CEO of the platform. Dr. Price is an entrepreneurial veterinarian who has a track record of successfully acquiring and selling animal hospitals. Dr. Price received his Doctorate of Veterinary Medicine from the College of Veterinary Medicine at Auburn University.

“We are thrilled about the partnership with Dr. Price and his hospitals and look forward to creating a leading regional network of animal hospitals throughout the Southeast,” said Mike Cooper, Founding Partner at Shore Capital and Chairman of Southern Veterinary Partners. “As part of our sector-focused investment approach, we’ve spent significant time studying the veterinary services industry and we are confident that the sector benefits from a number of attractive industry dynamics and is ripe for continued consolidation.”

Shore plans to invest in infrastructure to standardize operations and provide support to SVP’s current and future clinics including centralized finance, accounting, human resources, IT, sales and marketing. Additionally, Shore Capital is supplementing the incumbent management with several new executives, including a CFO and Vice President of Business Development, and a board of directors to help enhance operations and execute an acquisition growth strategy.

Southern Veterinary Partners will pursue partnerships with likeminded veterinarians to build a network of high quality and service-oriented animal hospitals. Dr. Price noted, “I’m excited about the opportunity to partner with Shore and am looking forward to executing our vision and building a best-in-class regional platform in the Southeast.”

The veterinary services segment is an attractive niche for investment for several reasons including: significant market fragmentation, advanced pet care treatment that is prolonging the lives of pets and increasing healthcare demand, favorable pet ownership projections, and the strong emotional bond between owners and their pets.

This recapitalization represents the first investment out of Shore Capital Partners Fund I, L.P., a $112.5 million investment vehicle raised in May 2014.

About Shore Capital
Shore Capital is a Chicago-based private equity firm focused exclusively on microcap healthcare investments. Shore supports management partners with capital, business development expertise, and industry knowledge to accelerate growth, fund acquisitions, and generate value to shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant growth potential, including organic and growth through industry consolidation. Shore has approximately $150 million of equity capital under management through various investment vehicles including the recently formed Shore Capital Partners Fund I, L.P. with $112.5 million of capital commitments. For more information, visit