Daily News: December 23, 2014

Deloitte Advises Diamondback Drugs in Sale


Deloitte Corporate Finance acted as exclusive financial advisor to Diamondback Drugs in its sale to Tailwind Capital.

Sheridan Legacy invested in Diamondback Drugs in 2012, when it partnered with the company’s founders. Dave Vorhoff, managing director for Deloitte Corporate Finance, along with other DCF professionals advised Diamondback in the 2012 transaction with Sheridan Legacy while at a predecessor firm.

“We were pleased to execute on a number of strategic initiatives under the leadership of Sheridan Legacy and look forward to our partnership with Tailwind Capital,” said Michael Blaire, CEO of Diamondback Drugs.

“DCF’s strong appreciation of the subtleties of the industry landscape in which the company operates created significant value to all shareholders throughout the entire sale process. Their process identified the most reliable buyer but more importantly, the most knowledgeable and best suited partner for the company’s next phase of growth. It was a pleasure working with their team,” said Jonathan Lewis, managing principal and partner for Sheridan Legacy Group.

“Advising Diamondback Drugs for the second time marks the fifth deal we’ve closed in this niche space during the past 24 months,” said Dave Vorhoff, managing director for Deloitte Corporate Finance. “Since making its investment in the company in 2012, Sheridan Legacy actively worked with Diamondback Drugs’ management team to enhance the value proposition to veterinarians and pet owners, yielding results that attracted a number of potential suitors for the business.”

“Advising Diamondback Drugs for the second time marks the fifth deal we’ve closed in this niche space during the past 24 months,” said Dave Vorhoff, managing director for Deloitte Corporate Finance. “Since making its investment in the company in 2012, Sheridan Legacy actively worked with Diamondback Drugs’ management team to enhance the value proposition to veterinarians and pet owners, yielding results that attracted a number of potential suitors for the business.”

Diamondback Drugs is a national specialty veterinary pharmacy, serving veterinary clinics, veterinary hospitals, aquariums and zoos, research institutions, and individual animal owners.