Gryphon Investors Inc. made a majority investment in Heartland Veterinary Partners LLC.
Gryphon's fellow middle-market private equity firm Tyree & D'Angelo Partners will continue to hold minority stakes in the veterinary support organization, alongside management.
Heartland CEO George Robinson will remain at the helm and will keep an ownership interest in the business.
Varagon Capital Partners, lender to middle-market companies and private equity firms, was the administrative agent, joint lead arranger and joint book runner on a senior secured credit facility to support the transaction.
Houlihan Lokey was financial adviser to Gryphon and Kirkland & Ellis was its legal counsel, while William Blair was financial adviser to Heartland and Winston & Strawn was its legal adviser.