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

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 15
Sector: Consumer Services M&A 2 of 2
Type: Secondary Buyout M&A Deals 4 of 4
State: California M&A 1 of 1
Country: United States M&A 7 of 11
Year: 2019 M&A 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 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 24.0B 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 37 of 59
Sector: Consumer Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 12 of 17
State: California M&A 6 of 8
Country: United States M&A 30 of 47
Year: 2019 M&A 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-11 Press Ganey

South Bend, Indiana, 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 South Bend, Indiana.

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

Durham, North Carolina, United States

Aspida 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. Aspida is based in Durham, North Carolina.

Buy -
SELLER

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 27.5B 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 26 of 32
Sector: Consumer Services M&A 1 of 2
Type: Secondary Buyout M&A Deals 11 of 17
State: California M&A 1 of 1
Country: United States M&A 12 of 13
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 MatrixCare

Bloomington, Minnesota, United States

MatrixCare enables long-term, post-acute care (LTPAC) organizations to provide better health outcomes for seniors while successfully managing risk in out-of-hospital care delivery. MatrixCare is trusted by thousands of senior living, skilled nursing, and accountable care organizations; life plan communities; and private-duty, home health, and hospice agencies. MatrixCare’s active care management platform helps providers connect and collaborate to keep America’s seniors healthy and optimize outcomes for 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 -