Private equity firm prepares for £700m veterinary group takeover

A York-headquartered veterinary group which employs about 3,000 people is in takeover talks with a private equity firm, according to reports.

Private equity firm BC Partners is close to confirming a £700m takeover of VetPartners, Sky News has stated.

VetPartners works across 260 sites across the UK and has its HQ at Leeman House, York. Sources cited by Sky News has said that the deal is set to be completed this week.

BC owns British companies such as the Cote restaurant chain. VetPartners was backed by August Equity in 2015. Investment firm Ares has also ploughed about £500m into VetPartners through a combination of debt and equity instruments, giving it a substantial minority stake.

Both Ares and VetPartners’ management team are expected to reinvest in the business as part of the sale to BC.

 

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