Percheron Capital Invests in Animal Dermatology Group, the Largest Veterinary Dermatology Specialty Group in the U.S.

Investment Supports ADG’s Expansion as Demand for Veterinary Dermatology Services Grows Rapidly

ADG Announces Simultaneous Acquisition of Animal Dermatology and Allergy Specialists

SAN FRANCISCO and IRVINE, Calif., Jan. 6, 2022 /PRNewswire/ — Percheron Capital (“Percheron”), a private equity firm focused on partnering with high-quality essential services businesses, today announced the acquisition of a majority stake in Animal Dermatology Group, Inc. (“ADG”), the largest group of veterinary dermatology specialists in the U.S. As part of the transaction, ADG’s management team will continue to lead the company and ADG’s founders and veterinarians will retain a significant stake in the company.

In conjunction with the investment, ADG has completed the acquisition of Animal Dermatology and Allergy Specialists (“ADAS”), a leading veterinary dermatology specialty practice founded by Dr. Andrew Rosenberg, DACVD, serving the New York metropolitan area. With this addition, ADG’s veterinary dermatology specialty services now extend to 12 states across the country. Financial terms of the transactions were not disclosed.

ADG was founded in 1980 with the mission of providing the highest quality veterinary dermatology care to pet owners everywhere. The company has since grown to become the U.S.’s largest group of veterinary dermatology specialists engaged in the diagnosis and treatment of acute and chronic skin conditions in pets, with more than 40 primary and satellite locations in theU.S. and abroad. ADG also administers the largest Dermatology Residency Training Program qualified by the American College of Veterinary Dermatology (ACVD) in the U.S., supporting the development of future dermatologists through comprehensive training and research. The company expects to build on its momentum and significant growth over the coming years as the increasing demand for high-quality, veterinary dermatology services grows alongside meaningfulindustry tailwinds, including surging pet ownership.

Chris Collins, Co-Founder and Managing Director of Percheron, commented, “We are excited to partner with ADG to continue to expand the largest veterinary dermatology group in the country.There is significant demand among pet owners for specialty dermatology care and ADG has builta preeminent network of the industry’s leading dermatologists to meet this need. We look forward to supporting ADG’s talented team as they continue to expand, innovate and deliver the highest quality care to pets nationwide.”

Dr. Craig Griffin, Co-Founder of ADG, said, “We founded ADG with the mission of making cutting-edge veterinary dermatology available to pet owners everywhere. We believe we are at a natural inflection point in our growth story, and this partnership with Percheron Capital will enable us to take ADG to the next level and bring our innovative services to new and existing markets in order to support and care for more pets and pet owners.”

Dr. Wayne Rosenkrantz, Co-Founder of ADG, added, “We are incredibly proud of our team