Latham & Watkins Advises on Thrive Pet Healthcare’s US$350+ Million Financing

Thrive Pet Healthcare (Thrive), a leading owner and operator of a national network of over 360 veterinary hospitals, has announced the successful completion of a new financing transaction that will provide US$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.

Latham & Watkins LLP represented the second lien lenders and certain other lenders in the transaction with a team led by banking partners Paul Bonewitz, Jesse Sheff, Conray Tseng, and Victor Ludwig. Advice was provided on structuring matters by partners James Ktsanes, Hugh Murtagh, and Javier Stark; and on tax matters by partners Pardis Zomorodi and Bora Bozkurt.