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Tyree & D’Angelo Partners Announces Minority Growth Investment in Western Veterinary Partners, led by LGT Capital Partners, Hamilton Lane, and Apogem Capital
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Rhea-AI Summary
Western Veterinary Partners has secured a strategic growth investment from institutional partners, led by Tyree & D’Angelo Partners, LGT Capital Partners, and Hamilton Lane (HLNE). This minority equity investment aims to bolster Western's capacity to expand its network of veterinary hospitals across the U.S. The company has demonstrated strong organic growth and successful acquisitions in attractive markets, enhancing its presence and services for companion animal veterinarians. The investment will empower Western to positively impact local communities by providing essential support to veterinary practices.
Positive
Strategic growth investment from institutional partners, enhancing financial capacity.
Demonstrated strong organic growth and successful acquisitions in attractive veterinary markets.
Investment supports expansion of veterinary services and community impact.
Negative
None.
CHICAGO--(BUSINESS WIRE)--
Western Veterinary Partners (“Western” or the “Company”), a people-centric and growth-oriented veterinary support organization, has received a strategic growth investment from a group of institutional limited partners, including both existing and new Tyree & D’Angelo Partners (“TDP”) investors. TDP will manage the new minority equity investment and will maintain its control equity position. The transaction was led by LGT Capital Partners, accounts managed by Hamilton Lane, and Apogem Capital.
Based in Denver, Colorado, Western is a fast-growing veterinary support organization (“VSO”) with a growing number of general veterinary hospitals across the United States. Through its veterinarian-first culture and robust infrastructure, Western supports a large and rapidly growing network of general practice veterinarians and team members who provide a range of animal health services to companion animals. Since its founding, Western has delivered a strong track record of organic growth, as well as growth through acquisitions of veterinary practices in attractive underlying markets, and the Company continues to increase its presence and add greater density in its existing geographies. Western strives to be the partner of choice for veterinarians who benefit from a wide array of non-clinical services that the company provides, and TDP believes this has resulted in strong veterinarian retention and organic growth.
TDP Co-Chief Executive Officers Michael Tyree and Enzo D’Angelo said, “We are grateful for our longstanding and new relationships with leading institutional private markets investors that not only support TDP but also provide efficient and constructive capital solutions for our fast-growing companies such as Western. This growth capital will allow Western’s management team to serve a growing number of companion animal veterinarians, support team members, customers, and patients in making a positive impact in their local communities. We are very excited about Western’s future and look forward to continuing to support the company’s rapid growth.”
William Blair served as the exclusive financial advisor to Western and TDP. Kirkland & Ellis LLP served as legal advisor to TDP and Winston & Strawn LLP served as legal advisor to Western.
About Western Veterinary Partners
Western Veterinary Partners is a high-quality and fast-growing veterinary support organization in the United States. For more information, please visit www.westernvetpartners.com.
About Tyree & D’Angelo Partners
Tyree & D’Angelo Partners (“TDP”) is a lower middle market private equity firm focused on buying and building high-quality businesses through true partnerships with owners and executives. For more information, please visit www.TDPfund.com.
About LGT Capital Partners
LGT Capital Partners is a leading alternative investment specialist with more than $85 billion of assets under management and more than 600 institutional clients in 43 countries. An international team of more than 700 professionals is responsible for managing a wide range of investment programs focusing on private markets, liquid alternatives and multi-asset solutions. Headquartered in Pfaeffikon (SZ) Switzerland, the firm has offices across Europe, US, Middle East and Asia. For more information, please visit www.lgtcp.com.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs nearly 600 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has nearly $832 billion in assets under management and supervision, composed of nearly $108 billion in discretionary assets and over $724 billion in non-discretionary assets, as of December 31, 2022. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. For more information, please visit www.hamiltonlane.com.
About Apogem Capital
Apogem Capital was formed in April 2022 through the combination of PA Capital, Madison Capital Funding and GoldPoint Partners to create a singular and unified, world class private markets’ investment firm. With approximately $39 billion in assets under management as of December 31, 2022, we believe Apogem has the deep relationships, data, and history in the middle market to deliver innovative solutions to both clients and sponsors. Apogem Capital offers investors access to the middle market’s growth engine through investments in leading private companies and funds. The Firm manages a streamlined suite of capital solutions, including direct lending, junior debt, primary fund investments, secondary investments, equity-co-investments, GP stakes, and private real assets. Apogem Capital is a wholly owned subsidiary of New York Life Insurance Company (“NYLIC”), through New York Life Investment Management Holdings, LLC (“NYLIM”). For more information, please visit www.apogemcapital.com.
