Covetrus (NASDAQ: CVET), a global leader in animal-health technology and services, announced today a $250 million investment from Clayton, Dubilier & Rice (CD&R), a leading private investment firm that has been a significant shareholder of the Company since its formation in 2019 and formerly of its predecessor company, Vets First Choice, since 2015. This additional capital significantly strengthens the Company’s financial profile and enables management to execute against strategic growth objectives. On an as-converted basis, together with CD&R’s existing common shares of Covetrus, CD&R will now own approximately 25% of pro forma common shares outstanding.
Read the full article: Covetrus Announces a $250M Convertible Preferred Equity Investment by Clayton, Dubilier & Rice //
Source: https://www.globenewswire.com/news-release/2020/04/30/2025283/0/en/Covetrus-Announces-a-250-Million-Convertible-Preferred-Equity-Investment-by-Clayton-Dubilier-Rice.html