Harris Williams Advises American Veterinary Group on its Sale to Oak Hill Capital
March 16 2021 - 4:08PM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised American Veterinary
Group (AVG), a portfolio company of Latticework Capital Management
(Latticework) and Trive Capital (Trive), on its sale to Oak Hill
Capital (Oak Hill). AVG is an acquirer and operator of general
practice and urgent care animal hospitals in the Southeastern
United States. The transaction was led by Whit Knier and Geoff
Smith of the Harris Williams Healthcare & Life Sciences (HCLS)
Group, Corey Benjamin and William McBride of the firm’s Consumer
Group, and Jason Kurian of the firm’s Richmond office.
“AVG’s visionary management team has built a leading veterinary
services platform which uniquely combines general practice wellness
care with a novel urgent care model to form a differentiated
ecosystem in its markets, delivering an unmatched experience to the
pets, pet families and veterinarian partners they serve,” said Whit
Knier, a managing director at Harris Williams. “Given the company’s
strong and growing regional footprint and innovative, integrated
service offering, we believe AVG is poised for tremendous continued
success with Oak Hill.”
“Leveraging the expertise and experience of the firm’s HCLS
Group and Consumer Group allowed us to effectively tailor our
positioning of the business and resulted in an optimal outcome for
AVG, Latticework and Trive,” said Corey Benjamin, a managing
director at Harris Williams. “AVG is a truly unique platform and we
look forward to watching the company’s next chapter with Oak
Hill.”
“Harris Williams has been an excellent partner throughout this
transaction and their guidance, support and industry knowledge was
integral to our successful outcome,” said Craig Niebur, CEO of AVG.
“All of us at AVG are very grateful to Harris Williams and look
forward to building on our strategic initiatives with Oak
Hill.”
Founded in 2015, AVG owns and manages a network of general
practice and urgent care veterinary hospitals that treat and
protect over 500,000 pets annually. AVG delivers high touch
practice management solutions while supporting clinical autonomy to
help veterinarians at all stages of the practice lifecycle focus on
the needs of their patients, instead of the needs of their
business.
Headquartered in Dallas, Latticework is a growth oriented
private equity firm focused exclusively on the healthcare industry.
Latticework leverages its over 60 combined years of healthcare
experience, as well as its network of industry executives, to help
companies grow and realize their full long-term value. The firm is
currently investing out of LCM Healthcare Fund I, LP.
Trive is a Dallas-based private equity firm managing
approximately $2 billion in aggregate capital commitments. Trive
focuses on investing equity and debt in what it sees as
strategically viable middle market companies with the potential for
transformational upside through operational improvement. The
company seeks to maximize returns through a hands-on partnership
that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals
who have been involved in over 100 middle market transactions
representing in excess of $6 billion in revenue across Trive’s
targeted industry sectors and situations.
Oak Hill is a private equity firm managing funds with over $16
billion of initial capital commitments and co-investments since
inception. Over the past 35 years, Oak Hill and its predecessors
have invested in approximately 100 private equity transactions
across broad segments of the U.S. and global economies. Oak Hill
applies an industry-focused, theme-based approach to investing in
the following sectors: services, industrials, media and
communications, and consumer. Oak Hill works actively in
partnership with management to implement strategic and operational
initiatives to create franchise value.
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 8th Floor, 20 Farringdon Street, London EC4A 4AB, 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.
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