Ropes & Gray Advised Thrive Pet Healthcare on Strategic Liability Management Deal

Ropes & Gray Advised Thrive Pet Healthcare on Strategic Liability Management Deal

Ropes & Gray advised Thrive Pet Healthcare in completion of a deal that will provide over $350 million of enhanced liquidity and extend maturities of over $1.7 billion of existing debt obligations. A press release dated March 31 announced the completed transaction. 

Leading owner and operator of a national network of more than 360 veterinary hospitals across the US, Thrive Pet Healthcare’s new financing and extended maturity provides it with considerable capital to implement its operational initiatives, buttress its financial profile and drive continued growth. The deal was supported by 100% of Thrive’s existing lenders and its equity sponsor, and is another great outcome for clients of Ropes & Gray’s market-leading liability management practice.

The Ropes & Gray team included business restructuring partners Benjamin M Rhode and Ryan Preston Dahl; finance partners Leonard Klingbaum, Milap Patel and Alexander Zeltser; private equity partner Alexander (Sandy) Boer; tax partner Pamela L Glazier; M&A partner Chris Comeau; restructuring associate Rahmon Brown; private equity associate Andrea Daley; and finance associate Nell Ethridge.

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