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11/2020

ALLIANCE ANIMAL HEALTH acquired by L CATTERTON

UNITED STATES Health Providers / Outpatient Care / Vet Clinics EV 500M - 1.5b USD

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.

ALLIANCE ANIMAL HEALTH, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (15.6x).

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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

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2021
2020

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REFERENCES

Valuation range: EV 500M - 1.5b USD

EBITDA range: 25M - 50M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ALLIANCE ANIMAL HEALTH by L CATTERTON are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: l catterton