CHICAGO and ST. PAUL, Minn., May 08, 2024 (GLOBE NEWSWIRE) -- Granite Creek Capital Partners, a Chicago-based private investment firm, grows its footprint in the animal health market through its recent funding of Veterinary Pharmaceutical Solutions’ (“VPS”) acquisition of Diamond Animal Health (“Diamond”). Granite Creek supported VPS’ acquisition of Diamond through a follow-on investment from its FlexCap II fund, executing on the firm’s continued pursuit of animal health investment opportunities.
Granite Creek purchased VPS, a licensed animal compounding pharmacy focused on supporting the veterinary community in 2020, and has actively supported the company in driving growth through strategic investments in human capital, new product development, and facility expansion. The Diamond acquisition represents the first of many planned platform additions as the company looks to expand its capabilities and market reach.
Granite Creek worked closely with VPS leadership through the acquisition of Diamond, a contract manufacturer and researcher of animal vaccines and pharmaceuticals that are utilized by veterinarians of production and companion animals. The combined business provides a full suite of solutions to meet veterinarians' needs while remaining a valuable partner to other pharmaceutical and biological companies working with Diamond to manufacture their products. Furthermore, VPS and Diamond’s combined pharmacy, chemistry, quality, and regulatory capabilities uniquely position the company for rapid innovation.
“We view production animal health as an attractive end-market. Innovative companies in this sector are critical in supporting stable protein sources for consumers while ensuring efficiency and safety in the supply chain,” said Mike Ray, Operating Partner at Granite Creek Capital Partners. “The combination of VPS and Diamond creates an integrated partner with the capabilities and capacity to continue bringing innovative solutions to the market.”
“VPS’ acquisition of Diamond Animal Health is the first of many planned platform additions as the company looks to expand its capabilities and market reach, and it marks an exciting new chapter for both VPS and Diamond,” said Dean Warras, Chief Executive Officer of both entities. “We welcome Diamond Animal Health to our team as we diversify our product offerings, expand our research, further the company’s development capabilities, and elevate overall operations.”
About Veterinary Pharmaceutical Solutions
Veterinary Pharmaceutical Solutions (VPS) is a Minnesota-based licensed pharmacy that provides animal health products and services to the veterinary community. VPS has treated over two billion pigs with compounded solutions that include Water-Soluble Amoxicillin, Meloxicam, Ibuprofen, and more. VPS creates custom medications tailored to the needs of an individual animal or a small group of animals, all under the direct care of a veterinarian. Founded in 1995, VPS has a rich legacy rooted in four generations of family pharmacists who served their local community for over a century.
To learn more about VPS, visit www.veterinarypharmaceuticalsolutions.com.
About Diamond Animal Health
Established in 1952, Diamond Animal Health is a leader in contract manufacturing of animal pharmaceuticals and vaccines. Based in Des Moines, Iowa, the company operates a USDA, FDA, and DEA-approved facility, offering comprehensive services such as Research and Development, Regulatory and Licensing Approvals, Contract Manufacturing, and Logistics.
About Granite Creek Capital Partners, L.L.C.
Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In 2023, Granite Creek was named to Inc.’s Founder-Friendly Investors list for the fourth year in a row, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs. For more information on Granite Creek, visit www.granitecreek.com or call 312-895-4500.
For more media information, contact:
Lisa Hendrickson, LCH Communications for Granite Creek
516-643-1642
lisa@lchcommunications.com
