Veterinary acquirers we could document (2026-09)
| Acquirer | Owner / sponsor | HQ | Focus | Footprint (as stated) | Latest dated event (source) |
|---|---|---|---|---|---|
| Shore Capital Partners (portfolio page: invested Dec 2024); Silver Lake reported as co-investor (Bloomberg) | Birmingham, AL | General, specialty, urgent care, pet resorts | 970+ locations in 43 states, 22,000+ teammates (company site, Sep 2026) | ||
Mars Veterinary Health (VCA, Banfield, BluePearl) | Mars, Incorporated (private) | VCA: Los Angeles, CA | General, specialty and emergency | VCA and Mars had 1,900+ combined US/Canada locations at the 2017 deal | |
NVA (National Veterinary Associates) | JAB Holding (majority, agreed 2019) | Not stated | General practice, specialty, pet resorts | 670+ hospitals and 70 pet resorts at the 2019 deal | |
| TSG Consumer Partners (equity sponsor) | Not stated | General, specialty, emergency | Not restated here | ||
PetVet Care Centers | KKR (agreed to acquire Dec 2017) | Westport, CT | General, specialty, emergency, equine | 125 hospitals at the 2017 deal | Dec 2017: KKR agreement to acquire from L Catterton and others |
Rarebreed Veterinary Partners | Trilantic North America (portfolio company) | Not stated | General practice partnerships | Not restated here |
Read this before you answer a letter
Consolidator offers usually combine cash, rollover equity and a work commitment. Ask how rollover equity is valued and when it can be sold.
Platform vs add-on: what it means for price
A platform is the first company a PE firm buys in a trade or region; it is usually larger, keeps its management and is priced at a higher multiple. An add-on is a smaller company bolted onto that platform, typically at a lower multiple, because the buyer is paying for your customers, technicians and location rather than a management team.
Published ranges for veterinary practices:
| Deal type / size | Multiple | Source |
|---|---|---|
| 2-3 doctor practice, individual or small-platform buyer | 5-7x EBITDA | Sofer Advisors - Veterinary practice valuation methods and multiples (2026-04) |
| Independent veterinarian buyer vs corporate buyer | 3-5x vs 6-8x EBITDA | DVM Elite - The role of EBITDA in selling your veterinary practice |
| Corporate consolidator deals | 8-13x EBITDA typical (18x at the 2022 peak) | Today’s Veterinary Business - Veterinary consolidation (2023-11) |
If one of these groups contacts you
- Do not reply with numbers yet
Run your own range first with the veterinary practice calculator.
- Ask what kind of deal it is
Platform or add-on? How much cash at close, how much rollover equity or earn-out, and what role they expect you to play for how long.
- Check who owns the buyer
The sponsor and when it invested tell you how soon the buyer itself may be sold, which matters if you roll over equity.
- Talk to more than one buyer
A single-bidder process rarely gets the top of the range. Use our unsolicited offer guide and checklist.
Got a PE letter? Get our offer-review checklist
Twelve questions to ask before you sign anything, including the rollover and earn-out terms that change what you actually take home.
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Spotted an error or an out-of-date sponsor? Send a correction and we will review it against the primary source. Company names are used only to identify them; we are not affiliated with any acquirer listed.
Frequently asked questions
Who is buying veterinary businesses?
We documented 6 active acquirers from primary sources, including Mission Pet Health, Mars Veterinary Health (VCA, Banfield, BluePearl), NVA (National Veterinary Associates). The table lists each one’s owner, footprint and latest dated announcement.
Do PE-backed buyers pay more?
For larger companies, usually yes on headline multiple, but more of the price may come as rollover equity or earn-out. Compare cash at close and your required role, not only the multiple.
Can you introduce me to these buyers?
No. We are not a broker, we do not make introductions and we take no fees from buyers or sellers. See not a broker.
Sources
- Mission Pet Health - primary source (accessed 2026-09-23)
- Mars Veterinary Health (VCA, Banfield, BluePearl) - primary source (accessed 2026-09-23)
- NVA (National Veterinary Associates) - primary source (accessed 2026-09-23)
- Thrive Pet Healthcare - primary source (accessed 2026-09-23)
- PetVet Care Centers - primary source (accessed 2026-09-23)
- Rarebreed Veterinary Partners - primary source (accessed 2026-09-23)
- Sofer Advisors - Veterinary practice valuation methods and multiples (2026-04) (accessed 2026-09-23)
- DVM Elite - The role of EBITDA in selling your veterinary practice (accessed 2026-09-23)
- Today's Veterinary Business - Veterinary consolidation (2023-11) (accessed 2026-09-23)