AUSTIN, TX (March 31, 2025) –
Thrive Pet Healthcare (“Thrive”), a leading owner and operator of a national network of over 360 veterinary hospitals, today announced the successful completion of a new financing transaction that will provide $350+ million of enhanced liquidity and extend the maturities of all of its debt instruments, providing Thrive with significant capital to execute on its operational initiatives and strengthen its financial profile to drive continued growth. This transaction was supported by 100% of Thrive’s existing lenders and its equity sponsor, TSG Consumer Partners, demonstrating confidence in the business plan and management team.
“The successful completion of this transaction highlights the confidence of our lenders and sponsor in the strategic direction of the company," said Tad Stahel, Chief Executive Officer, Thrive Pet Healthcare. "With a stronger financial foundation, Thrive is well-positioned to continue to serve pets, pet families, and veterinary care professionals across our footprint."
Evercore Group LLC served as financial advisor, and Ropes & Gray LLP served as legal advisor to Thrive. PJT Partners served as financial advisor, and Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Thrive’s first lien lenders, and Perella Weinberg Partners served as financial advisor, and Latham & Watkins LLP served as legal advisor to Thrive’s second lien lender.
