Drugs & Pharmaceuticals M&A » By The Online Investor Staff, updated Thu., Aug. 18, 7:50 AM
Recent mergers and acquisitions in the Drugs & Pharmaceuticals M&A category.
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Slide #68. MWI Veterinary Supply, Inc. — Assets of IVESCO Holdings LLC
Acquirer:
MWI Veterinary Supply, Inc. (MWIV)
Acquiree:
Assets of IVESCO Holdings LLC
Details:
MWI Veterinary Supply, Inc. ("MWI" or "the Company") (NASDAQ: MWIV) announced today that it has completed its previously announced acquisition of substantially all of the assets of IVESCO Holdings LLC ("IVESCO") for an enterprise value of $67.5 million, plus a closing net working capital adjustment of $11.2 million. The total acquisition price represents a small premium over the net tangible assets acquired by MWI. This transaction is subject to a final post-closing working capital adjustment. The cash purchase price was funded with borrowings by the Company under its existing credit agreement.
MWI Veterinary Supply is a distributor of animal health products in the U.S. and in the U.K. Products that Co. sells include pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, supplies, specialty products, veterinary pet food, capital equipment and nutritional products. Co. markets these products to customers in both the companion animal and production animal markets. In addition, Co. provides its customers with a variety of services, including its e-commerce platform, technology management systems, pharmacy fulfillment, inventory management system, equipment procurement consultation, special order fulfillment, educational seminars and pet cremation.
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