Clayton, Dubilier & Rice, a private investment firm, and TPG Capital, the private equity platform of asset management firm TPG, are acquiring Covetrus.

Covetrus is an animal-health technology company dedicated to empowering veterinary practice partners.

“Covetrus offers a dynamic portfolio of leading distribution and technology solutions to veterinarians across the globe,” said Jeff Rhodes, co-managing partner at TPG Capital. “We look forward to partnering with management and CD&R to further its leadership in the growing animal health space,” continued Kendall Garrison, partner at TPG Capital.

Goldman Sachs & Co. LLC is serving as lead financial advisor to Covetrus. Lincoln International LLC is also serving as financial advisor to Covetrus. Weil, Gotshal & Manges LLP is serving as legal counsel. Deutsche Bank Securities Inc., UBS Investment Bank, BMO Capital Markets and Mizuho Securities USA LLC have provided committed debt financing for the transaction and are serving as financial advisors to CD&R and TPG Capital. Debevoise & Plimpton and Ropes & Gray are acting as legal counsel for CD&R and TPG Capital.