One of the largest animal hospital chains, National Veterinary Associates, is getting a new owner.
Ares Management Corp. and partner OMERS Private Equity have agreed to sell majority control of the 670-hospital network to another group, JAB Investors. Terms were not disclosed.
Earlier in 2019, JAB Investors bought its way into the veterinary industry with the $1.2 billion purchase of Compassion-First Pet Hospitals, which at the time operated 41 specialty, emergency and general practices and today has 42.
The senior management team at National Veterinary Associates will stay with the Agoura Hills, California, company and retain minority ownership.
The NVA portfolio includes more than 670 general, specialty and emergency practices and 70 pet resorts in the United States, Canada, Australia and New Zealand.
“We are proud to have supported the company during its significant growth over the past five years as it extended its reach outside the U.S., accelerated its acquisitions, invested in new pet segments such as pet resorts, and became the largest independent veterinary platform globally,” said Ares Management co-founder Bennett Rosenthal, MBA.
NVA’s CEO, Greg Hartmann, MBA, said the chain isn’t done expanding.
“Moving forward, we feel JAB Investors will be a great partner for us as we focus on our next phase of growth,” he said. “They are strong supporters of our mission of providing progressive and compassionate care. They share our belief that the best veterinary care is created by supporting and empowering our animal care teams in their local communities.”
National Veterinary Associates was founded in 1996 by Stanley R. Creighton, DVM, DACVIM.