M&A Deal Summary

JAB Holding Company Acquires National Veterinary Associates

On June 17, 2019, private equity firm JAB Holding Company acquired consumer services company National Veterinary Associates from Ares Private Equity Group and OMERS Private Equity

Acquisition Highlights
  • This is JAB Holding Company’s 2nd transaction in the Consumer Services sector.
  • This is JAB Holding Company’s 7th transaction in the United States.
  • This is JAB Holding Company’s 1st transaction in California.

M&A Deal Summary
Date 2019-06-17
Target National Veterinary Associates
Sector Consumer Services
Buyer(s) JAB Holding Company
Sellers(s) Ares Private Equity Group
OMERS Private Equity
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)

Target

National Veterinary Associates

Agoura Hills, California, United States
National Veterinary Associates, Inc. is one of the largest veterinary and pet care services organizations in the world. NVA partners with over 700 general practice hospitals, specialty + ER hospitals, equine hospitals, and pet resorts in the U.S., Canada, Australia, and New Zealand. NVA’s 14,000 team members and 2,600 veterinarians are united by a common purpose – a love for animals and the people who love them – and a common mission – to improve the comfort and well-being of animals by providing progressive and compassionate care. NVA’s veterinarians and animal care professionals provide a full range of medical and surgical services. T

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Buyer(S) 1

Buyer

JAB Holding Company

Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

JAB Holding Company is a global investment firm focused on acquiring companies with premium consumer and strong growth prospects. JAB will consider both minority and majority stakes. JAB Holding Company is headquartered in Luxembourg.

DEAL STATS #
Overall 9 of 13
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 4 of 4
State (California) 1 of 1
Country (United States) 7 of 9
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 Compassion-First Pet Hospitals

Tinton Falls, New Jersey, United States

Compassion-First Pet Hospitals is a family of well-known and respected specialty, emergency and general practice veterinary hospitals across the United States. Compassion-First operates a network of 41 hospitals and treatment facilities across 13 states, primarily in urban and suburban areas. Compassion-First provides specialty, emergency and general veterinary care supported by seamless multidisciplinary collaboration among its veterinarians.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Krispy Kreme

Charlotte, North Carolina, United States

Krispy Kreme is a branded specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed® doughnut. Krispy Kreme was formed in 1937 and is based in Charlotte, North Carolina.

Sell -

Seller(S) 2

SELLER

Ares Private Equity Group

Los Angeles, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 20.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Ares Private Equity Group is the private equity arm of Ares Management, a global alternative asset manager. The Ares Private Equity Group specializes in opportunistic majority/shared control investments in under-capitalized middle-market companies. Ares looks for companies with strong franchises and attractive growth opportunities. The Group prefers to be the lead investor and will invest across the capital structure, including common equity, preferred equity, convertible equity/debt and senior debt. Areas of interest include business services, defense, healthcare, manufacturing, industrial, energy and consumer products and services. Ares Private Equity Group was formed in 2003 and is based in Los Angeles, California.

DEAL STATS #
Overall 31 of 44
Sector (Consumer Services) 1 of 2
Type (Secondary Buyout) 12 of 16
State (California) 6 of 7
Country (United States) 28 of 39
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 Press Ganey

Wakefield, Massachusetts, United States

Press Ganey is a provider of healthcare performance solutions for hospitals, healthcare and home care providers. Press Ganey utilizes patient and employee surveys to collect vast amounts of proprietary data on behalf of clients to power its industry-leading benchmarking and analytics tools and advisory services. Press Ganey was founded in 1985 and is based in Wakefield, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-09 Aspida Financial

New York, New York, United States

Aspida Financial plans to issue insurance and reinsurance products for individuals and institutions seeking to fund their long-term financial needs. Aspida seeks to be a trusted partner focused on its customers’ financial security and success. Aspida’s solutions will include annuity and life insurance products that, in today’s volatile world, help bring stability and more predictability to a financial strategy.

Buy -
SELLER

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 19.8B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.

DEAL STATS #
Overall 25 of 29
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 11 of 15
State (California) 1 of 1
Country (United States) 12 of 13
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 MDI Achieve

Bloomington, Montana, United States

MDI Achieve, Inc. (MatrixCare) is a provider of software services to EHR for long-term care and senior living provider. MatrixCare is the complete solution for growing organizations that need to successfully manage risk in care delivery across the LTPAC spectrum. Trusted by more than 13,000 facility-based care settings and more than 2,500 home care, home health, and hospice organizations, MatrixCare’s solutions help ACOs, skilled nursing and senior living providers, life plan communities (CCRCs), and home health organizations to connect, collaborate and prosper as we migrate to a fee-for-value healthcare system. In addition to EHR components purpose-built for any LTPAC care-setting, MatrixCare also includes solutions to systematically increase clinical quality: Enterprise Analytics, robust Clinical Decision Support, and the industry’s first Care Coordination platform to create a true, person-centric, e-longitudinal health record and enable LTPAC providers to efficiently manage the populations under their care.

Sell $750M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Community Veterinary Partners

Philadelphia, Pennsylvania, United States

Community Veterinary Partners owns and operates veterinary hospitals and is committed to providing world-class treatment and health services to animals. Community Veterinary Partners was founded in 2009 and is based in Philadelphia, Pennsylvania.

Buy -
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