NEW YORK, June 18, 2002 – Bruckmann, Rosser, Sherrill & Co. (“BRS”) announces the completion of a recapitalization of MWI Veterinary Supply (“MWI” or the “Company”). The recapitalization is designed to provide the Company with significantly more capital to continue to grow its business. MWI Chief Executive, Jim Cleary, stated, “We are excited by the opportunity to partner with BRS, a private equity firm with significant experience in the area of drug distribution”.
MWI is a leading national distributor of animal health products to the veterinary profession, and the largest industry participant headquartered in the western United States. The Company distributes pharmaceuticals, vaccines, equipment and supplies to veterinarians serving both the companion animal and food animal markets. MWI was founded in 1976 by veterinarian M.W. Ickes to supply pharmaceuticals to his and neighboring veterinarian practices; today the Company distributes to thousands of customers throughout the country.
BRS is a New York based private equity investment firm with approximately $1.2 billion under management. BRS was founded in 1995 and has since invested in over 20 companies in the following industries: restaurants, consumer goods, specialty retail, recreation/leisure, apparel, home furnishings, industrial and commercial services (including equipment rental), commercial equipment manufacturing, wholesale distribution and healthcare services. BRS makes leveraged buyout, recapitalization/restructuring and growth capital investments in companies with superior management, predictable cash flow, strong market share and growth potential. For more information about BRS please call (212)-521-3700 or visit www.brs.com.