The Ontario Teachers’ Pension Plan has acquired PetVet Care Centers, an operator of specialty and general practice animal hospitals in the United States.

Financial terms of the deal were not disclosed.

The transaction was led by Teachers’ Private Capital (TPC). Catterton, a private equity firm that established PetVet in 2012, will retain a minority interest along with CEO Gino Volpacchio.

Headquartered in Westport, Conn., PetVet currently has 19 general practice and 11 specialty hospitals.

“Veterinary services represent a large and fragmented market with attractive prospects,” says Jane Rowe, TPC’s senior vice-president. “We look forward to working with PetVet’s management team to continue building the company through acquisitions and organic growth while providing exceptional support to our veterinarian partners.”

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Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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