Freeman Spogli takes majority stake in Evervet Partners
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].
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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)
Other operations with Freeman Spogli
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2025 | FREEMAN SPOGLI | PHILZ COFFEE | UNITED STATES | Restaurants / Chains |
| 09/2017 | FREEMAN SPOGLI | CAFE RIO | UNITED STATES | Restaurants / Chains |
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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
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