LGP Exits Animal Health International in $1.1B Deal
June 19, 2015
Animal Health International, a portfolio company of Leonard Green & Partners, has been acquired by Patterson Companies (NASDAQ: PDCO) for approximately $1.1 billion in cash. With sales and EBITDA of $1.5 billion and $68 million, respectively, for the 12 months ended March 2015, the company is a distributor of animal health products for production and companion animals to veterinarians, production animal operators and animal health product retailers. Patterson financed the acquisition through a combination of a $1 billion unsecured term loan and a $500 million unsecured cash flow revolving line of credit.