Morgan Stanley Capital to Sell Pathway Vet for $2 Billion, DJ Reports

Morgan Stanley Capital Partners agreed to sell veterinary clinic chain Pathway Vet Alliance LLC to TSG Consumer Partners in a deal worth at least $2 billion, including debt, Dow Jones reported citing people familiar with the matter.

The private-equity arm of Morgan Stanley Investment Management bought a stake in Pathway Vet in 2016 and expanded its operations through acquisitions. Further details of the deal weren’t available and it’s unclear how much debt TSG plans to use to finance the transaction, according to Dow Jones.