Vets in healthy position for growth after new acquisition

A WEST MIDLANDS veterinary business has expanded following the acquisition of a new practice in Sutton Coldfield.

West Midlands Vets now has plans to grow still further by making additional acquisitions in the region in the near future.

The expansion has been facilitated by a new £110,000 funding package from Lloyds Bank Commercial Banking.
 
West Midlands Vets was established in 2002 by Canadian born Vet, Douglas Cave and five other regionally-based veterinary surgeons. The business provides general practice care for all small animals, including vaccinations, neutering, diagnostic tests and surgery.
 
After building up a portfolio of seven clinics across Birmingham, all of which trade as Value Vets, Cave and his co-directors saw an opportunity to expand further and acquire an eighth practice, Sutton Park Veterinary Practice, which was for sale on Jockey Road in Sutton Coldfield.

It approached long-term banking provider, Lloyds Bank Commercial Banking, which provided the loan to necessary to purchase the 1,282 sq ft practice. Funding was granted using the Government-backed Funding for Lending Scheme.

Following the acquisition, West Midlands Vets plans to refurbish the building, as well as develop its expansion strategy.

Cave, managing director of West Midlands Vets, said: “We are continually looking for new opportunities to extend (our) offering to more pet-owners across the wider region.

“Lloyds Bank’s support has been instrumental in allowing us to make this investment, and the local team understood our objectives from the outset. We now look forward to renovating the practice and adding to our portfolio with further acquisitions across the West Midlands in the near future.”

Harvey Sandford, healthcare relationship director at Lloyds Bank Commercial Banking in the Midlands, said: “West Midlands Vets is a well-established and successful local business that has been providing a vital service for pet-owners across the region for the last 10 years and we were pleased to be able to assist with the investment.”

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