Capstone Partners served as exclusive financial advisor to VIP Petcare (“VIP”) in its sale to PetIQ, Inc. (NasdaqGS:PETQ) for approximately $230 million in cash, stock and notes.
VIP is a nationwide provider of veterinary wellness services through more than 2,900 community clinics hosted at local pet retailers, and also distributes pet wellness products.
PetIQ, a distributor and manufacturer of pet medications, is the leading seller to the retail channel of pet products that were previously available for purchase primarily from veterinary clinics.
The transaction will enhance PetIQ’s current product offering with complementary veterinary services, substantially expanding the company’s addressable market.
My partner and I founded VIP over 20 years ago, and have remained focused on building our business. We recognized that negotiating a merger, particularly with a publicly traded company, required significant additional expertise. [Capstone Partners] provided both critical skills and deep industry knowledge. Their expertise in structuring complex, public transactions to create a “win” for both parties was key to achieving a transformative outcome for our team and the pet sector.
