M&A Deal Summary

Patterson Companies Acquires Animal Health International

On May 4, 2015, Patterson Companies acquired medical products company Animal Health International from Leonard Green & Partners for 1.1B USD

Acquisition Highlights
  • This is Patterson Companies’ 4th transaction in the Medical Products sector.
  • This is Patterson Companies’ largest (disclosed) transaction.
  • This is Patterson Companies’ 14th transaction in the United States.
  • This is Patterson Companies’ 1st transaction in Texas.

M&A Deal Summary
Date 2015-05-04
Target Animal Health International
Sector Medical Products
Buyer(s) Patterson Companies
Sellers(s) Leonard Green & Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) Piper Jaffray Companies (Financial)

Target

Animal Health International

Westlake, Texas, United States
website
Animal Health International, Inc. is a provider of animal health products, services and technologies company in North America, representing and distributing products for more than 1,000 manufacturers in the areas of companion animal, equine, beef and dairy cattle, poultry and swine.

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Buyer(S) 1

Buyer

Patterson Companies

St. Paul, Minnesota, United States

website

Category Company
Founded 1877
Sector Distribution
Employees7,800
Revenue 6.5B USD (2022)
DESCRIPTION
Patterson Companies' corporate headquarters in St. Paul, Minnesota.
Patterson Companies' corporate headquarters in St. Paul, Minnesota.

Patterson Companies is a specialty distributor serving the dental, veterinary and rehabilitation supply markets. Patterson's largest business unit is Patterson Dental. Patterson Dental has operations in the United States and Canada and is a full-service, value-added supplier to dentists, dental laboratories, institutions, and other healthcare professionals. Patterson Dental provides consumable products (including x-ray film, restorative materials, hand instruments and sterilization products); basic and advanced technology dental equipment; practice management and clinical software; patient education systems; and office forms and stationery. Patterson Companies was founded in 1877 and is based in St. Paul, Minnesota.

DEAL STATS #
Overall 19 of 23
Sector (Medical Products) 4 of 4
Type (Add-on Acquisition) 10 of 14
State (Texas) 1 of 3
Country (United States) 14 of 18
Year (2015) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 Holt Dental Supply

Waukesha, Wisconsin, United States

Holt Dental Supply, Inc. is a regional dental supply company located near Milwaukee, Wisconsin. Holt Dental serves dental practices in Wisconsin, Illinois, Minnesota, Missouri, Michigan and Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-28 Performance Health

Warrenville, Illinois, United States

Performance Health is a multichannel branded supplier to the global rehabilitation, recovery and sports medicine markets. Its proprietary product portfolio consists of market leading health and wellness brands, including Biofreeze, TheraBand, Hygenic and Cramer. Performance Health is based in Warrenville, Illinois.

Sell $715M

Seller(S) 1

SELLER

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Leonard Green & Partners is a mega-sized private equity firm that invests in established companies that are leaders in their respective markets. Leonard Green will consider investments in consumer and business services, consumer products, distribution, media, and retail. Typical transaction values for acquisitions are between $500 million and $2 billion, however, the firm is capable of closing transactions valued up to $5 billion. Types of transactions include public-to-private, recapitalizations of privately held businesses, growth capital, equity capital to facilitate acquisitions, turnarounds/restructurings, and acquisitions of divisions/assets from large corporations. Leonard Green & Partners was formed in 1989 and is based in Los Angeles, California.

DEAL STATS #
Overall 24 of 52
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 5 of 10
State (Texas) 3 of 6
Country (United States) 23 of 49
Year (2015) 4 of 5
Size (of disclosed) 6 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-04 Scitor

Reston, Virginia, United States

Scitor Corp. is a provider of engineering, financial, management, and related services to the corporate customers. The company offers services for acquisition and life cycle management support, business process improvement, configuration management, facilitation services, feasibility assessments, and integrated logistics support. Scitor was formed in 1979 and is based in Reston, Virginia.

Sell $790M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-14 Ellucian

Reston, Virginia, United States

Ellucian is a higher education technology solutions provider. Ellucian’s products help colleges and universities manage their core administrative functions including enrollment, budget and financial planning, student information, human resources, strategic planning, and fundraising. Ellucian was founded in 1968 and is based in Reston, Virginia.

Buy $3.5B
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