Audax Private Debt announced that, as Administrative 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.