Tyree & D’Angelo Partners Announces Single-Asset Continuation Fund of Western Veterinary Partners

CHICAGO--(BUSINESS WIRE)-- Tyree & D’Angelo Partners (“TDP”), a Chicago-based private equity firm with an investment thesis-driven, buy & build-focused strategy, announced it has closed a single-asset secondary transaction to extend its partnership with Western Veterinary Partners (“Western” or the “Company”), a veterinarian-centric and fast-growing, US-based general veterinary support company. The executed transaction formed a continuation fund that also raised new capital to support Western’s ongoing strong organic growth and upcoming acquisitions. The fund, which will be managed by TDP, was anchored by HarbourVest Partners as the sole lead investor, with additional commitments provided by Ares Private Equity Secondaries funds, syndicate investors, and TDP’s existing limited and general partners.

Headquartered in Denver, Colorado, Western is a veterinarian-centric general veterinary services company with a leading market presence across the United States. The Company has been purposefully built to improve the lives of veterinarians in attractive end markets with the goal of delivering high-quality care and services to companion animals and pet parents. As part of this mission, Western’s affiliated veterinarians receive continued clinical training and mentorship, high-quality hospital equipment and technology systems, and economic upside through aligned equity ownership in the Company. Since inception, Western has driven leading veterinarian hiring and retention, which has helped the Company to be a market leader in organic growth. Western also continues to be a partner of choice for veterinary business owners and veterinarians through its proven strategy of improving the lives of veterinarians, which the Company believes will help it continue to be one of the fastest growing and top-performing general veterinary services companies in the United States.

“We are grateful for our longstanding and new relationships with leading institutional private markets investors that support TDP and this transaction, which has helped us extend our successful partnership with Western,” said TDP CEO & Co-Founder, Enzo D’Angelo, and President & Co-Founder, Michael Tyree. “We look forward to continuing to support Western and its management team during this next period of growth as they expand the company’s leading position across the general veterinary market, while serving a growing number of companion animal veterinarians, pet parents, and pets in order to make a positive impact in their local communities.”

“We are thrilled to be partnering with TDP and the Western management team on this bespoke continuation fund transaction,” said Mike Pugatch, Managing Director at HarbourVest Partners. “HarbourVest provides scaled secondary liquidity solutions to support private equity sponsors in retaining ownership of some of their strongest performing businesses, and we are excited to have led this transaction with TDP.”

William Blair served as the exclusive financial advisor to Western and TDP. Kirkland & Ellis LLP served as legal advisor to TDP and Winston & Strawn LLP served as legal advisor to Western. Ropes & Gray LLP served as legal advisor to HarbourVest Partners.

About Western Veterinary Partners

Western Veterinary Partners is a veterinarian centric, fast-growing, general veterinary support organization in the United States. For more information, please visit www.WesternVetPartners.com.

About Tyree & D’Angelo Partners

Tyree & D’Angelo Partners (“TDP”) is a leading investment-thesis driven private equity firm focused on buying and building high-quality businesses through true partnerships with owners and executives. For more information, please visit www.TDPfund.com.

About HarbourVest Partners

HarbourVest is an independent, global private markets firm with over 43 years of experience and more than $146 billion of assets under management as of June 30, 2025. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,270 employees, including more than 230 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $64 billion to newly-formed funds, completed over $66 billion in secondary purchases, and invested over $49 billion in direct operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2025, Ares Management Corporation's global platform had over $572 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

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Enzo D’Angelo

Co-Chief Executive Officer and Managing Partner

edeangelo@tdpfund.com

Michael Tyree

Co-Chief Executive Officer and Managing Partner

mtyree@tdpfund.com

Source: Tyree & D’Angelo Partners