Bond Vet completes merger with Small Door Veterinary

Bond Vet, the New York-based veterinary services company backed by Talisman Capital Partners and Warburg Pincus, has completed a merger with Small Door Veterinary, the company said. The parties did not disclose financial terms, leaving the transaction value, ownership split and financing structure undisclosed.

Small Door Veterinary is backed by Valspring Capital, Primary Venture Partners and Lerer Hippeau, according to the announcement. The combination brings together two investor-backed veterinary businesses at a time when pet healthcare remains an active area for private capital, though Bond Vet did not provide operating metrics, clinic counts or revenue figures for the merged company.

Deal structure and ownership

Bond Vet described the transaction as a completed merger rather than an acquisition. In such a structure, two companies combine under agreed terms that can include cash, equity, rollover stakes or other consideration. Because no financial details were released, the economics of the transaction cannot be assessed from the announcement.

The company also did not disclose whether existing backers will retain stakes in the combined business or whether any new financing accompanied the deal. Talisman Capital Partners and Warburg Pincus are listed as Bond Vet’s portfolio company sponsors, while Valspring Capital, Primary Venture Partners and Lerer Hippeau are identified as Small Door Veterinary’s backers.

Company background

Founded in 2019 and headquartered in New York, Bond Vet provides primary care, urgent care, dental services and surgical services for pets, according to the company description in the announcement.

The companies did not release additional details on management, branding, integration plans or geographic footprint. They also did not disclose whether the merger will change the range of services offered to pet owners.

The deal adds to consolidation among veterinary care providers backed by institutional investors, where operators often seek scale in clinical staffing, real estate, technology systems and customer acquisition. Bond Vet’s announcement, however, did not set out strategic targets or projected financial benefits from the combination.

This story draws on original reporting from PE Hub.