The private-equity arm of the bulge bracket bank Morgan Stanley, Morgan Stanley Capital Partners plans to sell its vet hospital business, Pathway Vet Alliance LLC. Morgan Stanley has agreed to sell the veterinary clinic chain to consumer-focused buyout firm TSG Consumer Partners, according to people familiar with the matter.
Details of the transaction was not disclosed however, people with knowledge of the deal company was expected to trade hands for at least $2 billion, including debt.
The transaction is one of the few occurring right now during the coronavirus pandemic spreading across the world causing massive economic shut downs on a global scale.
Leveraged buyouts (LBOs) are dependent upon the acquirers ability to obtain large amounts of debt. This debt is often in the form...