Thompson Street Announces the Sale of Vetio Animal Health, an Animal Health-Focused CDMO, to Swedencare
Thompson Street Capital Partners ("TSCP"), a private equity firm based in St. Louis, announced today it has completed the sale of Vetio Animal Health ("Vetio"), a leading Animal Health Contract Development Manufacturing Organization ("CDMO") in North America, to Swedencare AB (SECARE:FN Stockholm). Vetio specializes in complex drug product formulation and manufacturing of veterinary pharmaceutical, supplement, and dermatology products. TSCP was advised by Sidley Austin and Stifel.
During its ownership of Vetio, TSCP supported the Company's growth by expanding its manufacturing capabilities to meet the specific needs of animal health companies, including opening new manufacturing facilities in Montreal, Canada and Florida, rebranding the business, and acquiring Montreal, Quebec-based TetraGenx (TGX), resulting in expanded service capabilities.
John Kane, CEO and Board Member of Vetio, said, "We thank TSCP for their collaborative partnership as we grew the business through operational improvements and strategic acquisitions. We are confident Swedencare's purchase of Vetio positions the Company for continued growth with the same level of safety, quality and compliance."
Mike Smith, Vice President and Board Member of Vetio, added, "After meeting TSCP, John and I, together with TSCP, dedicated significant time and effort searching for the right way to build a differentiated CDMO and found it with our first acquisition of Tropichem Research Labs, which eventually became Vetio. The partnership has been exciting and valuable over the past several years."
"Vetio has been a ?buy and build' platform for TSCP in an exciting area of healthcare and life sciences. Working in close partnership with Vetio's talented management team, we accelerated revenue growth and executed on several key strategic initiatives," said Matt Scherrer, Managing Director at TSCP and outgoing Chairman of Vetio. "We achieved our goal of establishing Vetio as a single-source partner for successful product approval, commercialization, and ongoing supply."
About Thompson Street Capital Partners
Thompson Street Capital Partners (www.tscp.com) is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the Life Sciences & Healthcare, Software & Technology, and Business and Consumer Services and Products sectors. Founded in 2000, the firm has acquired more than 150 companies and has managed more than $2.6 billion in equity. TSCP partners with management teams to increase value by accelerating growth, both organically and via acquisitions.
About Vetio
Vetio (www.vetio.com) is a Contract Development and Manufacturing Organization (CDMO) that specializes in complex drug product formulation and manufacturing of veterinary pharmaceutical, supplement, and dermatology products. Vetio is committed to developing and manufacturing products that improve the lives of animals, while assuring the safety, quality, and compliance of our products to the highest industry standards. With offices in St. Louis, MO and Development and Manufacturing in Jupiter, Florida and Montreal, Quebec, Vetio is one of the largest CDMOs dedicated to Animal Health in North America.
About Swedencare
Swedencare, a listed company on NASDAQ First North Growth Market (www.swedencare.com), specializes in pet healthcare and produces, markets and sells premium products in the global and fast-growing market. The Company has a wide range of strong brands and products within most therapy areas, including Animal Pharmaceuticals®, nutravet®, NutriScience, Pet MD®, Stratford®, VetWELL® as well as ProDen PlaqueOff® for oral health to dogs and cats. Swedencare's headquarters is in Malmö, Sweden with thirteen subsidiaries located in seven countries with products sold in approximately fifty markets. Swedencare's sales have increased significantly over the last few years with strong margins and profits.
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