Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Pathway Vet
Alliance (Pathway), a portfolio company of Morgan Stanley Capital
Partners (MSCP), on its transaction with TSG Consumer Partners
(TSG). Pathway is the leading integrated provider of veterinary
care and support services to pets, pet families and veterinarians
in the U.S. The transaction was led by Geoff Smith, Whit Knier,
James Clark, Tyler Bradshaw, Nathan Robertson, Dalton Hicks and
Cameron Thomas of the Harris Williams Healthcare & Life
Sciences (HCLS) Group, and Ryan Budlong of the firm’s Consumer
Group.
“Pathway is addressing the future of the pet care industry and
management has created an operating model uniquely suited to serve
the diverse needs of pet families and veterinarians,” said Geoff
Smith, a managing director at Harris Williams. “The opportunity to
represent Pathway and MSCP on this pivotal milestone not only
extends our experience advising leading veterinary platforms but
also provides differentiated insight into the future of the broader
pet care industry, which we expect to remain strong despite current
uncertainty in the market. We look forward to following Pathway’s
next chapter with TSG, and we are honored to have worked with the
Pathway management team to find a partner who shares their vision
for the future.”
“We expect to continue to see significant investor interest in
the veterinary sector, especially for top quality companies like
Pathway,” added Whit Knier, a managing director at Harris Williams.
“Pathway’s management team has built a singular veterinary services
platform due to their dedication to the pets, pet families and
veterinarian partners they serve.”
“Given the company’s strong and growing national footprint,
integrated service offering and consumer focus, we believe Pathway
is poised for tremendous continued success with TSG,” said Ryan
Budlong, a managing director at Harris Williams.
Founded in 2003 and headquartered in Austin, Texas, Pathway has
grown from a single veterinary practice to include over 270
general, specialty and emergency practice locations, over 85 THRIVE
Affordable Vet Care locations, and the management services
organization, Veterinary Growth Partners, which supports over 5,500
affiliated and unaffiliated member hospitals. Pathway’s mission is
for its team members to be change agents for good, who support
people doing what they love so, together, they can transform the
veterinary industry and the world – for the better. Pathway looks
for practices and doctors seeking opportunities to grow and
provides personalized management support to help them focus on
providing the best possible care to their patients. Pathway has
differentiated itself by focusing on the unique needs of each
practice and partnering with the local team to implement their
vision and work with their values, as well as building out an
integrated pet care ecosystem that meets the needs of pets, pet
families and pet care providers nationwide.
Morgan Stanley Capital Partners, part of Morgan Stanley
Investment Management, is a leading middle market private equity
platform that has invested capital in a broad spectrum of
industries for over three decades. Morgan Stanley Capital Partners
focuses on privately negotiated equity and equity-related
investments primarily in North America and seeks to create value in
portfolio companies primarily in a series of subsectors in the
business services, consumer, healthcare, industrials and education
markets with an emphasis on driving significant organic and
acquisition growth through an operationally focused approach.
TSG is a leading private equity firm focused exclusively on the
branded consumer sector. Since its founding in 1987, TSG has been
an active investor in the food, beverage, restaurant, fitness,
beauty, personal care, household, apparel and accessories, and
e-commerce sectors. Representative past and present partner
companies include Planet Fitness, Duckhorn Wine Company, Joe
Hudson’s Collision Centers, CorePower Yoga, IT Cosmetics, REVOLVE,
BrewDog, Canyon Bicycles, Pabst, Backcountry, vitaminwater,
thinkThin, popchips, Stumptown, Smashbox Cosmetics and e.l.f.
Cosmetics.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams HCLS Group has experience across a broad
range of sectors, including healthcare providers; payors and payor
services; outsourced pharmaceutical services; medical device supply
chain; healthcare IT; and pharmacy. For more information on the
HCLS Group and other recent transactions, visit the HCLS Group’s
section of the Harris Williams website.
The Harris Williams Consumer Group has completed more than 60
transactions in recent years across a variety of verticals,
including branded consumer products; consumer services; food,
beverage and agribusiness; and restaurant and retail. For more
information on the Harris Williams Consumer Group and other recent
transactions, visit the Consumer Group’s section of the Harris
Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200403005302/en/
Katie Langemeier, marketing manager, at +1 (804) 648-0072.
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Mar 2024 to Apr 2024
PNC Financial Services (NYSE:PNC)
Historical Stock Chart
From Apr 2023 to Apr 2024