Harris Williams Advises Alliance Animal Health on its Significant Growth Investment from L Catterton

Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Alliance Animal Health on its significant growth investment from the Flagship Fund of L Catterton. Alliance Animal Health is a leading acquirer and operator of veterinary hospitals for companion animals. LightBay Capital (LightBay) will retain a significant minority stake. The transaction was led by Whit Knier of the Harris Williams Healthcare & Life Sciences (HCLS) Group and Corey Benjamin, Beau Pierce, Trey Shehan, and Kelly Soudachanh of the firm’s Consumer Group.

“It is incredible to see how Alliance Animal Health has grown since its founding five years ago. Through its doctor-focused culture, unique partnership model, and robust corporate infrastructure, Alliance Animal Health delivers an unmatched experience to pets, pet families, and veterinarian partners. We believe Alliance Animal Health will continue its robust growth trajectory with the help of the L Catterton and LightBay teams and we look forward to following the company’s continued success,” said Whit Knier, a managing director at Harris Williams.

“Leveraging the expertise and experience of the firm’s HCLS Group and Consumer Group allowed us to drive an optimal outcome for Alliance Animal Health,” said Corey Benjamin, a managing director at Harris Williams. “Alliance Animal Health is a truly unique veterinary services platform, and we look forward to seeing what management and the company will achieve in their next chapter in partnership with L Catterton.”

“Harris Williams, with their comprehensive support, guidance and knowledge of the veterinary services industry, did a fantastic job throughout the process, which led to an exceptional outcome for Alliance Animal Health,” said Matthew Sussman, CEO and co-founder of Alliance Animal Health. “We are very appreciative of everyone at Harris Williams, and we look forward to partnering with L Catterton and LightBay to execute on Alliance Animal Health’s next stage of growth.”

Alliance Animal Health is a multi-site owner, operator and business partner to veterinarians in the United States. Founded in 2016, Alliance Animal Health allows veterinarians to continue to practice medicine independently while providing resources and assistance in business operations. Veterinarians retain all the benefits of being an independent practice, but gain the additional advantages associated with becoming part of a larger organization. These include access to professional marketing, inventory management expertise, purchasing power, collaborative synergies and financial resources.

LightBay is a Los Angeles-based growth-focused private equity firm that applies a flexible approach to middle market investing. Primarily focused on healthcare and business and consumer services companies, LightBay invests across the capital structure and in all market environments to help accelerate the growth of high-quality businesses.

With more than $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton's team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made over 250 investments in consumer businesses.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams HCLS Group has experience across a broad range of sectors, including healthcare providers; payors and payor services; outsourced pharmaceutical services; medical device supply chain; healthcare IT; and pharmacy. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams website.

The Harris Williams Consumer Group has completed transactions across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on the Harris Williams Consumer Group and recent transactions, visit the Consumer Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.


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