ALLIANCE ANIMAL HEALTH
Acquired by
L CATTERTON
ALLIANCE ANIMAL HEALTH acquired by L CATTERTON
Target
ALLIANCE ANIMAL HEALTH
Acquirer
L CATTERTON
Context
L Catterton acquired a majority stake in Alliance Animal Health at a valuation up to $800M. The deal reflects the high demand for recession-resistant veterinary services. Under LightBay Capital's ownership (since June 2019), Alliance grew its EBITDA fivefold to reach $39M (pro forma adjusted). The entry of L Catterton aims to accelerate the company's buy-and-build strategy in a highly fragmented market, benefiting from the increased pet ownership trend and the essential nature of veterinary care.
This transaction is part of the Healthcare & Pharma industry, which currently tracks an average EBITDA multiple of 12.8x since the beginning of 2026, 1.8% increase compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Alliance Animal Health is a leading owner and operator of veterinary hospitals across the United States. The company partners with veterinarians in a joint-ownership model, providing shared resources, purchasing power, and business support while maintaining local medical independence. At the time of the deal, it operated in 15 states.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with ALLIANCE ANIMAL HEALTH
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