M&A Deal Summary

Metalmark Capital Acquires Innovetive Petcare

On January 9, 2019, private equity firm Metalmark Capital acquired consumer services company Innovetive Petcare from Prospect Partners

Acquisition Highlights
  • This is Metalmark Capital’s 1st transaction in the Consumer Services sector.
  • This is Metalmark Capital’s 56th transaction in the United States.
  • This is Metalmark Capital’s 13th transaction in Texas.

M&A Deal Summary
Date 2019-01-09
Target Innovetive Petcare
Sector Consumer Services
Buyer(s) Metalmark Capital
Sellers(s) Prospect Partners
Deal Type Secondary Buyout

Target

Innovetive Petcare

Austin, Texas, United States
Innovetive Petcare owns and operates veterinary hospitals across the country. Our clinics benefit from tools, resources, and a great support team dedicated to helping veterinary practices prosper and grow. Innovetive Petcare was established in 2015 and is based in Austin, Texas.

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Buyer(S) 1

Buyer

Metalmark Capital

New York, New York, United States
Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.

DEAL STATS #
Overall 60 of 60
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Texas) 13 of 13
Country (United States) 56 of 56
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 T. Parker Host

Norfolk, Virginia, United States

T. Parker Host is a total solutions provider for the maritime industry, specializing in agency services, terminal operations, stevedoring and marine assets. The entire Host team focuses on customer needs while adding value to every operation. T. Parker Host was founded in 1923 and is based in Norfolk, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Regenity Biosciences

Paramus, New Jersey, United States

Regenity Biosciences is a developer and manufacturer of collagen-based medical products used for tissue and bone repair and regeneration. Collagen Matrix, Inc. develops proprietary products that are sold to OEM customers on either a contract or private label basis across orthopedic, sports medicine, dental, and neurosurgery end markets. Collagen Matrix, Inc. also offers partnership opportunities including distribution, contract product development, and contract manufacturing services. Regenity Biosciences was founded in 1997 and is based in Paramus, New Jersey.

Sell -

Seller(S) 1

SELLER

Prospect Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 470M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Partners, LLC is a lower middle-market private equity firm that focuses on management buyouts and recapitalization of small companies. Prospect looks to invest $2 to $30 million of equity capital in companies with revenues of $15 to $100 million and EBITDA up to $10 million. The Firm targets opportunities in a variety of sectors spanning many sub-sectors of manufacturing, specialty distribution, and service. Transactions of interest include leverage recapitalizations, industry consolidations, corporate orphans, generational sales, under-managed companies, and backing independent equity sponsors. Prospect Partners was formed in 1998 and is based in Chicago, Illinois.

DEAL STATS #
Overall 31 of 37
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 11 of 14
State (Texas) 3 of 5
Country (United States) 31 of 37
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 Owen Equipment

Portland, Oregon, United States

Owen Equipment is a provider of specialty equipment platforms providing critical infrastructure solutions to municipal, utility, and commercial customers throughout the western United States. Owen serves as a dealer of new and pre-owned equipment, provides related parts and maintenance services, and maintains a large fleet of rental equipment used for sewer maintenance, hydro/vacuum excavation, street cleaning, and waste management applications. Owen Equipment was founded in 1958 and is based in Portland, Oregon.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 Adventure Ready Brands

Littleton, New Hampshire, United States

Adventure Ready Brands is a manufacturer, marketer, and distributor of popular personal care and outdoor products sold to consumers through various retail channels, including food, drug and mass merchandisers, outdoor and sporting goods stores, and promotional product distributors. Adventure Ready Brands was founded in 1975 and is based in Littleton, New Hampshire.

Sell -
Mergr

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