For Immediate Release
Dublin, OH. July 1, 2005 – The Butler Company and Burns Veterinary Supply, Inc. today announced the completion of their business combination, first announced April 18, 2005.
The combined company, now called Butler Animal Health Supply, LLC, serves over 29,000 veterinary clinics in all 50 states and distributes over 15,000 products for more than 300 vendors.
“We are extremely excited about the combination of Butler and Burns Veterinary Supply to form a new entity, Butler Animal Health Supply,” said Kevin Vasquez, President & CEO. “As a result of this combination, we are the preeminent market leader with the #1 position in the distribution of companion animal healthcare products in the United States. Our combined companies will bring unparalleled opportunities for the veterinary community through the most highly-trained and automated field sales and telesales organization in the industry. Additionally, we will be able to better serve our veterinary customers’ needs with a solutions-driven sales approach, a broader product line, and an industry leading set of value-added services, including clinic inventory management, practice management software and on-line ordering.
Kim Allen, the new President of Butler Animal Health Supply’s Commercial Division added, “We are very pleased that this transaction has progressed so well. This is an exciting opportunity for both companies and has been very well received by our customers, employees and vendor partners. The Integration Teams have worked very hard for a smooth transition and we are eagerly anticipating our new organization and the opportunities it will bring to all of our constituents.”As a result of the transaction, Oak Hill Capital Partners II, L.P., the financial partner for the transaction, and the Darby Group Companies, Inc., the former shareholder of Burns, together own a controlling interest in Butler Animal Health Supply with Oak Hill and Darby owning approximately equal beneficial stakes. Management also owns a minority interest.