mynth
← DATABASE
08/2022MajorityLBO

Freeman Spogli takes majority stake in Evervet Partners

UNITED STATES Health Providers / Outpatient Care / Vet Clinics REV 100m USD - 500m USD

Context

Freeman Spogli & Co. made a significant investment in EverVet Partners, partnering alongside existing investor Tailwind Capital while EverVet's founders and management retained meaningful equity stakes. The transaction provided growth capital to accelerate EverVet's expansion in the consolidating U.S. veterinary services market. The deal made strategic sense because EverVet's veterinarian-led platform model aligned perfectly with Freeman Spogli's consumer services expertise, while Tailwind's foundational support transitioned into continued partnership. EverVet selected Freeman Spogli for their track record scaling healthcare and consumer brands through organic growth and M&A. The timing capitalized on strong industry tailwinds including pet ownership growth and veterinary workforce shortages, positioning EverVet to capture market share through targeted acquisitions and organic initiatives.

Evervet Partners, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in Healthcare & Pharma market trends

Target

EverVet Partners is a veterinary services platform founded in 2020 and headquartered in Conshohocken, Pennsylvania, United States. The company operates a network of 21 general practice animal hospitals across 10 states, primarily serving the Mid-Atlantic, Midwest, Northeast, and Southeast regions. EverVet provides comprehensive veterinary care including wellness exams, surgeries, diagnostics, dental services, and emergency treatment for pets. Each clinic maintains its local identity while benefiting from the platform's shared resources for technology, recruiting, and operational support. The company partners with independent veterinarians, offering them equity opportunities and clinical autonomy while providing back-office infrastructure. EverVet focuses on being a veterinarian-led organization that prioritizes high-quality animal care and strong employee retention. The platform has grown rapidly in the fragmented U.S. veterinary market by targeting quality practices rather than pursuing volume at any cost. Its model emphasizes cultural alignment with clinic owners and invests heavily in attracting top veterinary talent. Revenue comes from clinic services with a focus on building long-term client relationships through exceptional care.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2022
$100–500M
[members only]
[members only]
2021
$100–500M
[members only]
[members only]

Other operations with Freeman Spogli

Other operations with Freeman Spogli
DateAcquirerTargetCountrySector
08/2025FREEMAN SPOGLIPHILZ COFFEEUNITED STATESRestaurants / Chains
09/2017FREEMAN SPOGLICAFE RIOUNITED STATESRestaurants / Chains

Similar deals in Health Providers

Similar deals in Health Providers
DateAcquirerTargetCountrySector
09/2022ORADIANSEREVELFRANCERadiology
09/2022EURAZEOIMAPOLEFRANCERadiology
07/2022ANDERA PARTNERSGROUPE RESONANCE IMAGERIEFRANCERadiology
07/2022INFRAVIA CAPITALUNIVETFRANCEVet Clinics
07/2022LATOUR CAPITALPHARMACIE LAFAYETTE - GROUPE HYGIE31FRANCEPharmacy
06/2022ARDIANSIMAGOFRANCERadiology
06/2022EURAZEOSEVETYSFRANCEVet Clinics
06/2022TRITON PARTNERSESPERI CAREFINLANDNursing Homes
04/2022GROUPE BRUXELLES LAMBERTAFFIDEANETHERLANDSRadiology
02/2022PARTNERS GROUPFOREFRONT DERMATOLOGYUNITED STATESOutpatient Care

REFERENCES

Revenue range: REV 100m USD - 500m USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Evervet Partners by Freeman Spogli 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.

Target: evervet partners

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Evervet Partners, an American company specialised in Outpatient Care, by Freeman Spogli in 2022, structured as a leveraged buyout (LBO).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.