VetCare Canada, a Vancouver-based veterinary practice management company, has raised up to C$175 million in a senior secured credit facility. The facility was arranged by Northleaf Capital Partners, which acted as the sole lead arranger. VetCare will use the proceeds to expand its network of practices in Canada.
VetCare Secures $175 Million Credit Facility Arranged by Northleaf
VANCOUVER, British Columbia–(BUSINESS WIRE)–VetCare Canada Inc. (“VetCare”) announced today that it has raised up to $175 million through a senior secured credit facility arranged by Northleaf Capital Partners (“Northleaf”). Northleaf acted as the sole lead arranger.
This debt financing will support VetCare’s continued expansion across Canada to complement its existing network of practices in Alberta, British Columbia, Manitoba, Ontario and Quebec and to further strengthen its corporate and operational capabilities that support the Company’s practices and medical teams.
“We are excited to partner with Northleaf, a global firm with strong Canadian roots, to help us achieve our goal of being a leading provider of high-quality veterinary medicine in Canada. Through our network of well-managed hospitals, we provide care that enhances the quality of life for our patients, comforts our clients and helps realize the ambitions of our medical team,” said Andrew Black, Founder and Chief Executive Officer of VetCare.
“We are delighted to partner with Andrew and the VetCare team to facilitate the next step in the Company’s growth,” said Spencer Ross, Vice President at Northleaf. “Northleaf is able to bring our extensive experience working with growing companies like VetCare to provide access to the capital required to expand their operations.”
Deloitte Corporate Finance Inc. served as exclusive financial advisor to VetCare in the transaction.
VetCare is the largest independently owned Veterinary Practice Management company in Canada. The Company was founded by Andrew Black with the idea of delivering excellent patient care by combining professional management with talented medical teams. VetCare strives to make veterinarian transition goals come to life by customizing sale arrangements to achieve each veterinarian’s unique objectives. VetCare is wholly Canadian owned and operated. For more information, please visit www.vet-care.ca.
About Northleaf Capital Partners
Northleaf Capital Partners is a global private markets investment firm with US$17 billion in private equity, private credit, and infrastructure commitments under management on behalf of public, corporate, and multi-employer pension plans, endowments, foundations, financial institutions, and family offices. Northleaf’s 150-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park, and Melbourne, is focused exclusively on sourcing, evaluating, and managing private market investments globally. Northleaf’s portfolio includes more than 400 active investments in 35 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.