Audax Private Debt announced that, as Agent & Sole Lead Arranger, it provided a Second Lien Credit Facility to support add-on acquisitions and a refinancing for Metalmark Capital’s portfolio company, Innovetive Petcare (the “Company” or “Innovetive”).
Headquartered in Austin, TX, Innovetive Petcare is a leading acquirer and operator of specialty and general practice veterinary hospitals and clinics for companion animals. The company primarily operates in the south central and southeastern United States.
“Innovetive has a well-deserved reputation for providing best-in-class services and solutions to support its growing network of veterinary hospitals,” said Shehzad Ajmal, Managing Director at Audax Private Debt. “We are excited to partner with Metalmark Capital in this transaction and look forward to the continued growth of the business under their ownership.”
“Audax Private Debt was a flexible and reliable financing partner throughout a fast-moving process,” said Howard Hoffen, Chairman & CEO of Metalmark. “We look forward to working together as we continue to grow and expand the Innovetive platform.”
About Innovetive Petcare
Founded in 2015 by Mark Ziller and Paul Covill, Innovetive Petcare is a leading operator and acquirer of specialty and general practice veterinary hospitals and clinics for companion animals. Innovetive primarily operates in the south central and southeastern United States. For more information, please visit www.innovetivepetcare.com.
About Audax Private Debt
Audax Private Debt has invested over $21 billion across more than 830 established middle market companies in support of over 230 private equity sponsors. Our platform offers a range of financing solutions, including first lien, stretch senior, unitranche, second lien, subordinated debt, and equity co-investments. We provide financing certainty, add-on investment capability, and the experience and collaborative approach to work with portfolio companies. Based in New York, our experienced team of investment professionals has built lasting relationships, establishing Audax Private Debt as a trusted name in the U.S. middle market. For more information, visit the Audax Private Debt website www.audaxprivatedebt.com.
Audax Private Debt is an integral part of Audax Group, a leading alternative investment manager headquartered in Boston with offices in New York and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Debt and Private Equity businesses.
About Metalmark Capital
Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders and executives. The Firm focuses its investment activity in healthcare, industrials & infrastructure and agribusiness. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments. For more information, please visit www.metalmarkcapital.com.
Audax Private Debt
Sard Verbinnen & Co.
Julie Rudnick/Julie Casale