Atlantic Street Capital Boosts Board Diversity at United Veterinary Care with Three New Directors
Tracey Gray-Walker, Deborah Kochevar, Clinton Lewis to join board as veterinary services market maintains strong growth
GREENWICH, Conn., Feb. 1, 2021 /PRNewswire/ -- Continuing its leadership in recruiting diverse directors for portfolio company boards, Atlantic Street Capital has named three new directors to the board of one of its portfolio companies, United Veterinary Care, the national animal hospital and surgical services company. The directors include Tracey Gray-Walker, CEO of American Veterinary Medical Association Trust; Deborah Kochevar, DVM, PhD, Dean Emerita and Professor at the Cummings School of Veterinary Medicine at Tufts University; and Clinton Lewis, former EVP and Group President responsible for international operations, commercial development and lifecycle innovation, global genetics, and aquatic health at Zoetis, the largest global animal health company. Gray-Walker and Kochevar are serving in their new board roles now; Lewis will join the board on March 1, 2021.
"It is essential to our investment philosophy that we create the conditions for the best governance at our portfolio companies, and this means improving racial and gender equity on these boards," said Andy Wilkins, Co-Chief Executive Officer at Atlantic Street Capital. "We are committed to recruiting diverse board candidates to position United Veterinary Care for a period of outstanding growth ahead."
Atlantic Street Capital, which targets entrepreneurial businesses poised for their next level of growth, was the first private equity firm to launch an institutional effort to recruit women for its portfolio companies' boards and other top positions, and is now expanding its diversity efforts. More than 25% of Atlantic Street Capital's portfolio company senior leaders and operating advisors are women, while the private equity industry as a whole has women in fewer than 10% of senior roles, according to Prequin research.
United Veterinary Care is building its board at a point of rising demand in the animal health market, with a boom in pet adoptions beginning shortly after the pandemic lockdown. The $35 billion veterinary service industry had already been growing at a strong pace of 8-10% each year.
The newly expanded board also reflects demographic changes in veterinary talent. "Women represent 80 to 90% of classes graduating from veterinary schools today," said Scott Crawford, DVM and CEO of United Veterinary Care. "As a company of veterinary professionals, we are looking to diversify the organization and reflect the shifting demographics as this female talent emerges. Having two strong women join the board now helps set the stage for increased gender diversity throughout the company."
"I am honored to serve on the board of United Veterinary Care," said Tracey Gray-Walker, who is also a director at ASAE Insurance. "I look forward to working with the leadership team and the other board members to help expand the inclusive approach to growing the business and serving the profession."
Dr. Kochevar, who is also on the board of Charles River Laboratories International, Inc., and Elanco, said of her new role: "United Veterinary Care distinguishes itself as a veterinary profession assimilator through a commitment to positive culture, communication, collaboration, and teamwork," said Dr. Kochevar. "The result is an environment where people and their animals thrive."
For more information, please contact Suzanne Oaks Brownstein or Trang Mar of Temin and Company at 212-588-8788 or [email protected].
About Atlantic Street Capital
Atlantic Street Capital is a private equity firm that invests in lower middle market companies with between $4 million and $15 million in EBITDA. The firm invests in fundamentally sound companies that will benefit from capital investment and value-added strategic and operational initiatives. Atlantic Street Capital's approach are hands-on investors who work closely with management to unlock their business' underlying value and help them succeed. The firm is currently making investments in Atlantic Street Capital IV, LP. For more information, visit www.atlanticstreetcapital.com.
SOURCE Atlantic Street Capital
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