North Bridge Venture Partners Exits SmartPak Investment
May 23, 2014
Henry Schein Animal Health, a companion animal health distribution business, has entered into an agreement to acquire an approximate 60% ownership position in SmartPak, a VC-backed provider of equine supplements and horse supplies across the U.S. Henry Schein is joined in the investment by Oak Hill Capital Partners, a PE firm with experience in the animal health market, with the remainder of ownership continuing to be held by the SmartPak management team. Launched in 1999, SmartPak most recently raised nearly $4 million of funding in 2008. Investors exiting SmartPak through the deal include North Bridge Venture Partners, which invested $25 million into the company in 2007, and Saints Capital. Piper Jaffray served as exclusive financial advisor to SmartPak and North Bridge.