MWI Veterinary Supply Inc. had completed the acquisition of substantially all of the assets of Tri V Services, Inc. (Tri V) for approximately $5 million consisting of $4.5 million in cash and 12,692 shares of restricted common stock.
Based near Detroit, MI, Tri V is a distributor with an 11-year history of providing animal health products to approximately 850 veterinary practices, with a particular focus on emergency clinics and ophthalmology specialists. Tri V had total revenues of approximately $8 million for its fiscal year ended December 31, 2006.
Jim Cleary, president and chief executive officer of MWI, commented: "Excellent service and innovative thinking have made Tri V successful in veterinary distribution. We're delighted to have the talented members of Tri V join MWI, and we are dedicated to providing continuous, high-level service to Tri V's customers".
MWI is a distributor of animal health products to veterinarians across the United States of America. Products MWI sells include pharmaceuticals, vaccines, parasiticides, diagnostics, capital equipment, supplies, veterinary pet food and nutritional products. We market these products to veterinarians in both the companion animal and production animal markets.