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VetCare Secures $175MM Credit Facility Arranged by Northleaf

September 01, 2021, 07:40 AM
Filed Under: Veterinary

VetCare Canada raised up to $175 million through a senior secured credit facility arranged by Northleaf Capital Partners (“Northleaf”). Northleaf acted as the sole lead arranger.

This debt financing will support VetCare’s continued expansion across Canada to complement its existing network of practices in Alberta, British Columbia, Manitoba, Ontario and Quebec and to further strengthen its corporate and operational capabilities that support the Company’s practices and medical teams.

“We are excited to partner with Northleaf, a global firm with strong Canadian roots, to help us achieve our goal of being a leading provider of high-quality veterinary medicine in Canada. Through our network of well-managed hospitals, we provide care that enhances the quality of life for our patients, comforts our clients and helps realize the ambitions of our medical team,” said Andrew Black, Founder and Chief Executive Officer of VetCare.

“We are delighted to partner with Andrew and the VetCare team to facilitate the next step in the Company’s growth,” said Spencer Ross, Vice President at Northleaf. “Northleaf is able to bring our extensive experience working with growing companies like VetCare to provide access to the capital required to expand their operations.”

Deloitte Corporate Finance Inc. served as exclusive financial advisor to VetCare in the transaction.

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