Covetrus

Benjamin Wolin serves as President and CEO. The board of directors, chaired by CD&R partner Phil Knisely, includes partners from both CD&R and TPG. Major strategic decisions—such as acquisitions and capital allocation—are made by the board. Day-to-day operations are led by Wolin and the executive team, many of whom have backgrounds in healthcare and technology.

Covetrus operates as a portfolio company controlled by CD&R and TPG. The board includes three CD&R partners (Phil Knisely, Ravi Sachdev, Sarah Kim) and two TPG partners (Jeff Rhodes, Kendall Garrison). CD&R and TPG collectively hold majority board seats, meaning strategic moves such as acquisitions or divestitures require their approval.

Covetrus focuses exclusively on the companion, equine, and large-animal veterinary markets. Its products and services span practice management software, payment processing, diagnostics, medications and supplies, online pharmacy, compounding, and client communications. The firm does not invest outside of animal health.

Covetrus is an operating company, not an investment vehicle. It generates revenue by selling technology and services to veterinary practices. However, its private equity backers (CD&R and TPG) may execute acquisitions on behalf of Covetrus, as seen in the firm's continued expansion through add-on acquisitions.

The firm's headquarters is in Portland, Maine. It has additional offices in Phoenix (AZ), Omaha (NE), Fort Worth (TX), Madrid (Spain), and Brisbane (Australia). Its distribution and supply network spans over 20 countries, with regional leadership teams for North America, Europe, Latin America, and Asia Pacific.

Covetrus VetSuite is described as the first practice improvement network for veterinarians. It connects thousands of practices, enabling them to access discounted supply pricing, technology tools, and peer collaboration. Covetrus markets it as a way to increase productivity, enhance competitiveness, and improve profit margins.