Swedencare AB’s $181.5 Million Acquisition of the Vetio Group

Lindahl advised Swedencare AB on the acquisition. TSCP was assisted by McCarthy Tétrault.

Swedencare AB acquired the Vetio Group consisting of eight companies in the US and Canada from the US private equity firm Thompson Street Capital Partners and a number of minority shareholders.

The purchase price amounts to approximately 181.5 million USD and consists of a cash amount of approximately 179 million USD and an issue in kind of 184,190 shares in Swedencare to the selling members of management (representing 2.3 million USD) with payment as contribution in kind through transfer of units in one of the target companies.

The group will continue to be run by existing management members, which by way of the issuance of new shares will become minority shareholders in Swedencare.

Vetio is a contract development and manufacturing organization (CDMO) that specializes in complex drug product formulation and manufacturing of veterinary pharmaceutical, supplement, and dermatology products. With offices in St. Louis, Missouri and development and manufacturing in Jupiter, Florida and Montreal, Quebec, Vetio is one of the largest CDMOs dedicated to animal health in North America.

Swedencare AB specializes in pet healthcare and produces, markets and sells premium products in the global and fast-growing market. Swedencare’s headquarters is in Malmö, Sweden with subsidiaries located in seven countries and products sold in approximately fifty markets.

TSCP is a St. Louis-based private equity firm focused on investing in founder-led middle market businesses in the life sciences and healthcare, software and 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.

Lindahl’s team consisted of Johan Herrström (Picture), Annika Brandt, Christian Sundén, Jesper Fredriksson, Johanna Svensson, André Persson and Pontus Söderberg.

The McCarthy Tétrault team included Patrick Shea, Michel Ranger (Tax), Alexandre Saulnier-Marceau (M&A), Lisa Melanson and Véronique Wattiez Larose (IP and Regulatory) and Caroline Bernier (Employment).

Involved fees earner: Annika Brandt – Lindahl; Jesper Fredriksson – Lindahl; Johan Herrström – Lindahl; André Persson – Lindahl; Pontus Söderberg – Lindahl; Christian Sundén – Lindahl; Johanna Svensson – Lindahl; Caroline-Ariane Bernier – McCarthy Tétrault; Lisa Melanson – McCarthy Tétrault; Alexandre Saulnier-Marceau – McCarthy Tétrault; Patrick Shea – McCarthy Tétrault; Véronique Wattiez Larose – McCarthy Tétrault; Michel Ranger – McMillan;

Law Firms: Lindahl; McCarthy Tétrault; McMillan;

Clients: Swedencare AB ; Thompson Street Capital Partners;

Federica Tiefenthaler

Author: Federica Tiefenthaler