Investment Summary

Leonard Green & Partners Invests In MedVet

On June 28, 2024, private equity firm Leonard Green & Partners invested in consumer services company MedVet from Goldman Sachs Merchant Banking

Investment Highlights
  • This is Leonard Green & Partners’ 6th transaction in the Consumer Services sector.
  • This is Leonard Green & Partners’ 95th transaction in the United States.
  • This is Leonard Green & Partners’ 2nd transaction in Ohio.

Investment Summary

Date 2024-06-28
Target MedVet
Sector Consumer Services
Investor(s) Leonard Green & Partners
Sellers(s) Goldman Sachs Merchant Banking
Deal Type Stake Purchase

Target

MedVet

Worthington, Ohio, United States
MedVet is an independent veterinarian owned and led network of specialty and emergency hospitals dedicated to delivering care to pets. The organization’s team of caregivers has helped MedVet become a preferred choice for care throughout the US. MedVet was founded in 1988 and is based in Worthington, Ohio.

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Investor(S) 1

Investor

Leonard Green & Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 75.0B 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 103 of 107
Sector: Consumer Services M&A 6 of 7
Type: Stake Purchase M&A Deals 10 of 10
State: Ohio M&A 2 of 2
Country: United States M&A 95 of 99
Year: 2024 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-28 SRS Distribution

McKinney, Texas, United States

SRS Distribution is a distributor of residential roofing materials and supplies in the U.S. SRS has over 160 branches in more than 40 states serving a diverse group of roofing contractors, home builders, and retailers. SRS Distribution was founded in 2008 and is based in McKinney, Texas.

Sell $18.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-02 DuraServ

Carrollton, Texas, United States

DuraServ is a provider of commercial and industrial overhead door and loading dock equipment maintenance, repair and install services. DuraServ was founded in 2001 and is based in Carrollton, Texas.

Buy -

Seller(S) 1

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 120 of 126
Sector: Consumer Services M&A 1 of 2
Type: Stake Purchase M&A Deals 5 of 5
State: Ohio M&A 7 of 7
Country: United States M&A 85 of 90
Year: 2024 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-06 CarltonOne Engagement

Markham, Ontario, Canada

CarltonOne Engagement is a technology company that creates B2B employee recognition, rewards, sales/channel incentive, and customer loyalty programs. CarltonOne Engagement was founded in 1989 and is based in Markham, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-09 TAIT

Lititz, Pennsylvania, United States

TAIT is a provider of advanced creative and engineering solutions to the live entertainment industry. It provides end-to-end solutions to design, construct, manufacture and operate custom-built concert touring and permanent installation experiences. TAIT was founded in 1978 and is based in Lititz, Pennsylvania.

Buy -