Press Releases

PetHonesty Names Pet Industry Veteran Daniel Horner as Vice President of Sales

by Steve Newman

PetHonesty Appoints Dr. Greg Reinhart as Vice President of Research and Development

AUSTIN, Texas, Nov. 11, 2021 /PRNewswire/ — PetHonesty, a trusted leader in premium pet health products and a portfolio company of Vestar Capital Partners, today announced the addition of Greg Reinhart, PhD, to its executive team as Vice President of Research and Development.

Dr. Reinhart joins PetHonesty from General Mills, where he spent the last five years as Senior Vice President of Research and Development for the Blue Buffalo pet food brands. His previous experience spans 17 years at the Iams Company and Procter & Gamble Pet Care, including serving seven years as the Vice President of Strategic Research and Communication. He also held other positions of increasing responsibility in Research & Development within the company.

"Dr. Reinhart's expertise in pet health is unparalleled, and we are extremely excited for the elevated level of sophistication he brings to our product development initiatives," said Ben Arneberg, CEO of PetHonesty. "In addition to strengthening our Research & Development team, Dr. Reinhart's wealth of knowledge in pet nutrition uniquely positions PetHonesty to bring world-class education and guidance to pet parents around the world."

Dr. Reinhart is the author of over 250 scientific publications and 14 patents, and he is a Fellow of the American College of Nutrition. He received his Bachelor of Science degree in Animal Science, his Master of Science degree in Non-Ruminant Nutrition (Animal Science), and his Doctor of Philosophy degree in Nutritional Biochemistry (Animal Science) all from The Ohio State University. In 2014, Ohio State inducted Dr. Reinhart into the Animal Sciences Hall of Fame for his leadership in the animal nutrition sector and his efforts to combat human malnutrition.

"I am thrilled to be joining the PetHonesty team," said Dr. Reinhart. "The company's commitment to providing a natural and noticeable boost to pet health is inspiring, and I'm excited to help develop new products that will allow pet parents to enjoy more joyful, healthy years with their pets."

About PetHonesty 
PetHonesty is a trusted leader in premium pet health products. Founded in 2018 and headquartered in Austin, TX, the company provides a natural and noticeable boost to pet health through natural, science-backed products that demonstrate effectiveness pet parents can truly see. PetHonesty's products are formulated to help address a plethora of common pet ailments, including immobility, digestive issues, and allergies. The company's world-class customer service provides personalized guidance and education to help light the way to more joyful, healthy years for pets and pet parents. PetHonesty products are available via its website as well as through Amazon and Chewy. For more information, please visit www.pethonesty.com.

Media Contact:

Lambert & Co.
Jennifer Hurson
845-507-0571
[email protected] 
or
Caroline Luz
203-656-2829
[email protected]

SOURCE: PetHonesty

Related Links

http://www.pethonesty.com

by Kimberly Lu

Vestar Capital Partners Named to Inc.'s 2021 List of Founder-Friendly Investors

NEW YORK, Oct. 15, 2021 /PRNewswire/ — Vestar Capital Partners, a leading U.S. private equity firm, today announced that it has been named to Inc.'s third annual Founder-Friendly Investors list, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs.

The list recognizes firms that entrepreneurs can trust and collaborate with while receiving the financial and strategic support they need to help accelerate growth.

"We founded Vestar on the principle that partnership with great founders and management teams is the cornerstone of any successful investment; for more than 30 years, this approach has led to exceptional outcomes for our companies and investors," said Dan O'Connell, Founder and CEO of Vestar. "In fact, over half of the investments in our two most recent funds are founder- or family-led businesses. We thank Inc. for recognizing Vestar's commitment to this style of investing, and we look forward to building steadfast partnerships with founders and entrepreneurs in the future."

Vestar has invested nearly $3 billion in more than 25 founder- and family-owned companies since its founding in 1988. Vestar's current portfolio consists of 10 founder-led businesses, including four 2021 investments – Dr. Praeger's Purely Sensible Foods, Stratus, PetHonesty and Friday Health Plans.

"Supporting an entrepreneur's vision and driving growth is more than just a financial investment. It's about building a relationship and supporting the founders beyond that initial year. These private equity firms treat the founders like partners," said Scott Omelianuk, editor-in-chief of Inc. media.

Contact:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
[email protected]

Caroline Luz
(203) 656-2829
[email protected]

by Kimberly Lu

Vestar Portfolio Company, Stratus, Acquires Chicago-Based MLE

Cleveland, OH – September 28, 2021 – Stratus, a leading facilities services and brand implementation services firm, today announced the acquisition of Chicago area-based MLE Brand Services, creating a $325+ million company with nearly 850 employees throughout the United States. The newly combined Stratus and MLE facilities service offerings cover the full brand lifecycle, including interior and exterior signage, refresh and remodel construction, repair and maintenance, and energy services. Terms of the transaction were not disclosed.

Stratus, founded in 1931, has tripled its revenue since 2017 through strategic growth initiatives with its long-term customers in the retail, healthcare, financial, restaurant, hospitality, and convenience-store sectors, as well as through multiple acquisitions. The Stratus client roster includes blue-chip brands like Bank of America, Chase, CVS, Lowe’s, McDonald’s, Target, The Home Depot, and Walgreens. MLE’s reputation, expertise and production capabilities in interior branding, brand installation, and brand rollout warehousing and logistics significantly enhances Stratus’ brand implementation services portfolio, while further expanding its multi-solution facilities services offering.

“MLE and Stratus both have stellar reputations for service, quality, and brand partnership, so this acquisition is a natural next step,” noted Tim Eippert, CEO, Stratus. “Our capabilities are highly complementary, and by joining forces we’ll be able to provide a more holistic offering to our combined client base.”

MLE was founded in 2002 by Mike Loftus, who grew the company to over 130 employees in the Chicago area by building strong relationships with blue-chip customers. The MLE management team will remain intact, and Mr. Loftus will join the Stratus Executive Leadership Team led by Mr. Eippert, effective immediately. “Together, Stratus and MLE will provide superior and seamless end-to-end in-house service offerings, with our clients at the center of everything we do,” said Mr. Loftus.

Headquartered in Mentor, Ohio, Stratus has operations centers in Illinois, Ohio, Florida and New Jersey, and manufacturing facilities in Illinois and South Carolina. Stratus is a portfolio company of Vestar Capital Partners.

About Stratus

Stratus is a leading brand implementation and facilities services company offering signage solutions, energy services, repair and maintenance programs, and refresh and remodel capabilities across 50 states and 24 countries. With more than 50,000 projects completed annually, the Company provides versatile solutions for some of the world’s largest and most recognized brands. For more information, please visit www.stratusunlimited.com.

About Vestar Capital Partners

Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Business & Technology Services, Consumer, and Healthcare. Since its founding in 1988, Vestar funds have invested $11 billion in 88 companies – as well as more than 200 add-on acquisitions – with a total value of over $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

by Kimberly Lu

Michael Vaupen Joins Vestar Capital Partners

NEW YORK, NY – September 14, 2021 - Vestar Capital Partners (“Vestar”), a leading middle-market private equity firm, today announced that Michael Vaupen has joined the firm as a Principal and senior member of its healthcare team, focusing on healthcare technology and services. Mr. Vaupen will be responsible for all aspects of the investment lifecycle, from deal sourcing to portfolio company management, and will play a key leadership role in the Firm’s healthcare practice.

“Mike has deep experience in healthcare technology investing, which aligns perfectly with Vestar’s investment focus, and we are confident that he’ll have an immediate impact at the firm,” said Norm Alpert, Co-President and head of Healthcare at Vestar. “As patients, providers, and payers all look to use technology to make more informed decisions on the cost and quality of care, healthcare technology is playing an increasingly important role. We look forward to Mike’s contributions as we identify and partner with innovative companies in this rapidly evolving space.”

Mr. Vaupen joins Vestar from Welsh, Carson, Anderson & Stowe, where he focused on healthcare technology and services investing. Prior to that, Mr. Vaupen was an investment professional at Pamplona Capital Management, where he helped establish the private equity firm’s healthcare vertical, and in the healthcare group at Oak Hill Capital Partners.  He began his career in the healthcare investment banking group at Morgan Stanley. Mr. Vaupen earned his Bachelor’s degree in Economics from The Wharton School of the University of Pennsylvania and received his MBA from Harvard Business School.

“I am thrilled to join the Vestar team given the firm’s long history of successful healthcare investing,” said Mr. Vaupen. “I look forward to partnering with my colleagues and our portfolio company management teams as we look to creatively deliver value and capitalize on strong healthcare technology industry tailwinds.”

by Kimberly Lu

Vestar Capital Partners Promotes Ian Singleton To Vice President

NEW YORK, NY – September 7, 2021 - Vestar Capital Partners, a leading U.S. private equity firm, announced today it has promoted Ian Singleton to Vice President.

"Ian is an invaluable member of the team and has taken an active role across many of our consumer and business & technology services-focused investments," said Dan O'Connell, Founder and CEO of Vestar. "We congratulate Ian and look forward to his increasing contribution as the firm grows and moves forward."

Ian joined Vestar in 2019, having previously worked as at Ares Management in their U.S. Direct Lending Group. He began his career in the Financial Sponsors Group at Citigroup. Ian graduated magna cum laude from Duke University with a B.A. in Psychology, a minor in Economics, and a certificate in Markets and Management Studies.

by Kimberly Lu

Mercury Healthcare Launches as the New Brand for Healthgrades Enterprise Software, Technology and Data Analytics Company, Formerly Known as Healthgrades

by Kimberly Lu

Mercury Healthcare Sells Healthgrades.com to RV Health

CHARLOTTE, NC and DENVER, CO – August 4, 2021 – RV Health, a Red Ventures business, has acquired Healthgrades.com from Mercury Healthcare, the new brand for the separate enterprise-wide technology and data platform for health systems formerly known as Healthgrades. Healthgrades.com is the leading online marketplace to find and connect with the right doctor, the right hospital and the right care. Half of all Americans who visit a doctor this year will visit Healthgrades.com as part of their healthcare journey.

RV Health’s portfolio also includes Healthline Media, the #1 digital health property with 92MM unique monthly visitors according to the latest Comscore rankings, and its brands Healthline.com, MedicalNewsToday.com, PsychCentral.com and Greatist.com. In the two years since Red Ventures acquired Healthline Media, its revenue and audience have both grown over 50%. Together, RV Health is the world’s largest digital health platform, with a global monthly audience of more than 275 million, according to Google Analytics.

“People are demanding digital health solutions they can trust,” said RV Health CEO Jeff Hallock. “With the addition of Healthgrades.com, RV Health now has the industry’s leading digital health platform. Bringing the leading healthcare marketplace together alongside the world’s largest health information property, we are transforming the online health journey - from seeking health information online to finding the care they deserve.”

This acquisition advances Red Ventures' mission to help people discover and decide on the most important aspects of their lives by adding healthcare provider selection to its mix of financial services, health information, media and technology, travel, education and entertainment.

“There’s nothing more personal than health,” said Red Ventures co-founder and CEO Ric Elias. “Every American should be able to easily find the right healthcare provider when they need it. By pairing Red Ventures’ trusted content with Healthgrades.com’s deep healthcare provider insights, we can fundamentally improve the process of finding care and ultimately, helping people take charge of their health.”

With the sale of Healthgrades.com, Mercury Healthcare will focus on its software and data as a service technology that leverages advanced analytics and insights from patient and provider data, to create a seamless experience across all physical and digital touchpoints for the nation’s health systems, ultimately leading to better outcomes.

“This represents the culmination of a two-year strategy focused on building, then separating, two highly successful, but ultimately different businesses – our marketplace business and our technology business—each with enormous opportunities,” said Jovan Willford, CEO, Mercury Healthcare. “Red Ventures is a terrific new home for Healthgrades.com, and I’m excited about the future of Mercury Healthcare, the only data-enabled company that helps providers engage consumers, improve physician relationships and deploy informatics to motivate target populations.”

There are no layoffs as a result of the RV Health acquisition. More than 200 Healthgrades.com employees will join Red Ventures’ larger team of more than 4,500 employees worldwide. The Healthgrades.com leadership team will remain intact, and the team will continue to be based primarily in Denver and Atlanta.

Healthgrades.com, along with the recent additions of CNET Media Group and Lonely Planet, expands Red Ventures’ ability to pair trusted brands and premium content with best-in-class online marketplaces and deep digital insights to help consumers discover and decide across a variety of industries.

Goldman Sachs and Piper Sandler acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Mercury Healthcare. King & Spalding LLP acted as legal advisor to Red Ventures.

About RV Health

RV Health is a Red Ventures business that helps more than 90MM unique visitors monthly live their strongest and healthiest lives. The RV Health portfolio includes Healthline.com, Healthgrades.com, MedicalNewsToday.com, Greatist.com, and PsychCentral.com. RV Health has the largest consumer health and wellness audience online, and employs more than 500 people across San Francisco, New York City, Charlotte, Detroit and more.

About Red Ventures

Over the last twenty years, Red Ventures has built a platform of businesses, trusted brands, proprietary technology and strategic partnerships that work together to connect millions of people with expert advice. Through premium content and personalized digital experiences, Red Ventures builds online journeys that make it easier for people to make important decisions about their homes, health, travel, finances, education and entertainment. Founded in 2000, Red Ventures spans 5 continents and employs more than 4,500 people. Red Ventures owns and operates several large digital brands including CNET, Healthline Media, The Points Guy, Bankrate and Allconnect.com.

For more information, visit https://redventures.com and follow @RedVentures on social platforms.

About Mercury Healthcare

Mercury Healthcare is a technology and data analytics company that empowers healthcare organizations to engage consumers and optimize provider relationships to accelerate growth. Our customers benefit from 30 years’ experience applying data analytics to drive intelligent engagement and enable personalized healthcare journeys. At Mercury Healthcare, we help healthcare organizations create seamless consumer experiences and improve outcomes to build healthier communities.

Media Contact:

Steve Swasey
Vice President, Communications, RV Health
[email protected]

Jennifer Newman
Mercury Healthcare
[email protected]

Ami Shukla
Director, Communications, Red Ventures
[email protected]

by Kimberly Lu

Vestar Capital Partners to Make Majority Investment in PetHonesty, a Leader in Premium Pet Supplements

NEW YORK, July 14, 2021 /PRNewswire/ -- Vestar Capital Partners, a leading U.S. middle-market private equity firm, announced today that it has agreed to make a majority investment in PetHonesty (or "the Company"), a trusted leader in premium pet health products providing high-quality, innovative pet supplements. PetHonesty co-founders Ben and Camille Arneberg will retain a significant minority stake in the Company, and Mr. Arneberg will continue to serve as CEO. Terms of the transaction were not disclosed.

Founded in 2018, PetHonesty is a highly differentiated brand known for its strong focus on product innovation and premium ingredients backed by nutritional science. PetHonesty's products are formulated to help address a range of common pet ailments, including mobility, digestion, and allergies, providing a healthy supplement to traditional pet diets. Based in Austin, TX, with a second office in New York City, the Company sells its products direct to consumers via its website as well as through partners such as Amazon and Chewy.

"PetHonesty is a fast-growing company that has built a passionate following of pet-loving consumers, and we're excited to partner with Ben and the entire team as the Company builds on its success," said Winston Song, Managing Director and Co-Head of Consumer at Vestar. "Pet parents have shown they are deeply committed to purchasing premium products, and PetHonesty is well positioned as the pet humanization trend and pet ownership continues to grow. We look forward to leveraging our consumer and pet category experience to help PetHonesty expand its brand and reach new customers."

"Our vision was to create the most trusted pet health company that empowers pet owners to offer their pets healthier and higher quality lives, and our partnership with Vestar is the next step in that journey," said Mr. Arneberg. "We have been fortunate to find the right partner in Vestar, which remains committed to our business strategy and will help provide the financial backing, industry relationships and category expertise needed to build on our momentum."

In conjunction with Vestar's investment, Jeffrey Ansell, a Vestar Senior Advisor and 35+ year consumer industry veteran, will join the PetHonesty board as Chairman. Earlier in his career, Mr. Ansell was a Procter & Gamble ("P&G") executive for 25 years, the last seven of those as President of the Iams company, following P&G's $2.3 billion acquisition in 1999. During his tenure leading P&G Pet Care, sales of iconic brands Iams and Eukanuba more than doubled from under $800 million to over $1.6 billion, and Iams became the #1 pet nutrition brand in the U.S. Mr. Ansell currently serves as Chairman, or member of the Board, for several other Vestar portfolio companies.

Vestar has deep experience in pet food and the broader better-for-you (BFY) food industry. The firm previously owned Big Heart Pet Brands, whose products include Meow Mix, Milk-Bone and Natural Balance.  Some of Vestar's current BFY food investments include Dr. Praeger's Sensible Foods, a manufacturer of better-for-you plant-based foods; Simple Mills, an innovative, market-leading better-for-you cracker, cookie and baking mix brand in the natural and organic channel; and Presence Marketing, the leading national sales broker dedicated exclusively to representing natural and organic food, beverage and personal care brands.

Kirkland & Ellis LLP served as legal counsel and William Blair acted as financial advisor to Vestar. Egan Nelson LLP served as legal counsel and Lincoln International acted as financial advisor to PetHonesty.

About PetHonesty
Based in Austin, TX and founded in 2018, PetHonesty is a trusted leader in pet health, providing premium pet supplements and products. The Company's pet products are formulated to help address a range of common pet ailments, including mobility, digestion, and allergies, providing a healthy supplement to traditional pet diets. PetHonesty products are available via its website as well as through Amazon and Chewy. For more information, please visit www.pethonesty.com.

About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 85 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

Media Contacts:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
[email protected]

Caroline Luz
(203) 656-2829
[email protected]

SOURCE Vestar Capital Partners

by Kimberly Lu

Vestar Capital Partners Acquires Stratus, a Global Leader in Brand Implementation and Facilities Services, from Arcapita

NEW YORK, July 7, 2021 /PRNewswire/ — Vestar Capital Partners (“Vestar”), a leading middle-market private equity firm, announced today that it has acquired Stratus (or “the Company”), a market-leading asset-light facilities services provider, from Arcapita Group Holdings (“Arcapita”), a global alternative investments firm. Terms of the transaction were not disclosed.

CEO and founder Tim Eippert and the Company’s senior leadership team will continue to lead Stratus  and will reinvest in the transaction alongside Vestar. Arcapita will also retain a minority stake in the Company.

Founded in 1953 and based in Mentor, OH, Stratus serves a highly diversified base of blue-chip customers including some of the leading Fortune 100 brands in 50 states and 24 countries across a broad range of end markets, including healthcare, financial services, QSR, convenience stores, and telecom. The Company offers best-in-class customer service and integrated solutions, enabled by a differentiated technology suite and unmatched expertise and scale. Under Arcapita’s ownership, Stratus more than tripled its revenue to over $300 million, while completing multiple add-on acquisitions to expand the Company’s customer base and product offerings.

“Stratus is fortunate to have found a true partner in Vestar, which shares our customer-centric philosophy and vision for growth, and has a deep understanding of our industry,” said Mr. Eippert. “We look forward to leveraging Vestar’s strategic relationships, capital, and operational expertise alongside our ongoing partnership with Arcapita, working together to continue building our capabilities for the benefit of our valued customers.”

“Stratus’ significant investments in systems and operational infrastructure, deep understanding of its customers’ needs, and relentless focus on service excellence have enabled its growth into a scaled nationwide platform,” said Nikhil Bhat, Vestar Managing Director and Co-Head of Business & Technology Services. “The Company has an attractive opportunity to expand into complementary service lines and reinforce its current offerings through acquisition and continued investment in the platform. We are excited to partner with Tim and his exceptional management team to help accelerate the next stage of Stratus’ growth.”

Martin Tan, Arcapita’s Chief Investment Officer, commented, “Arcapita is extremely proud of Stratus’ transformation into the leading national brand implementation company that it is today. With Arcapita’s support, Stratus has been able to expand its services and product offerings, as well as expand its footprint across the US. Stratus’ success is a testament to Arcapita’s dedicated approach of investing in good companies and providing them with the resources to realize their ambitions. We are confident that with the current strength of the Stratus bench and Vestar’s added support, the Company will continue to enjoy the rapid growth we have achieved, in the coming years.”

William Blair and Citizens M&A Advisory acted as financial advisors and King & Spalding served as legal counsel to Stratus. Robert W. Baird & Co. acted as financial advisor and Kirkland & Ellis LLP served as legal counsel to Vestar.

About Stratus
Stratus is a leading brand implementation and facilities services company offering signage solutions, energy services, repair and maintenance programs, and refresh and remodel capabilities across 50 states and 24 countries. With more than 50,000 projects completed annually, the Company provides versatile solutions for some of the world’s largest and most recognized brands. For more information, please visit www.stratusunlimited.com.

About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Business & Technology Services and Healthcare. Since its founding in 1988, Vestar funds have invested $8 billion in 85 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.

About Arcapita
Arcapita is a global alternative investment manager, with offices in Atlanta, London and Singapore and an affiliated office in Bahrain. Arcapita’s principal lines of business are private equity and real estate, and its management has a 24-year track record of over 90 investments with total transaction value in excess of $30 billion. Further details on Arcapita can be found at www.arcapita.com

Media Contacts
For Vestar:
Lambert & Co.
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]

For Arcapita
Tariq Hayat
+973 17 218 858
Mobile +973 39 461103
[email protected]
or
Brunswick
Ailsa Martin
+971 4 560 5900
[email protected]

by Kimberly Lu