Private equity firm Charterhouse Capital Partner has struck a \u00a3235m deal to acquire York-based Animalcare Group.<\/p>\n
The deal offers shareholders a cash exit at a significant premium while positioning the business for its next phase of growth away from public markets.<\/p>\n
The recommended takeover will be carried out by the bidco CCP PAW 2.<\/p>\n
Under the terms of the deal, Animalcare shareholders will receive 336p per share in cash, valuing the company\u2019s fully diluted share capital at approximately \u00a3235.2m. The offer represents a 36 per cent premium to the company\u2019s closing share price on 15 April, as well as notable uplifts against three and six-month averages.<\/p>\n
Animalcare\u2019s board has unanimously backed the transaction, describing it as a \u2018compelling outcome for investors\u2019 despite confidence in the company\u2019s standalone growth prospects.<\/p>\n
Alongside the cash offer, shareholders will also be given an alternative option to reinvest at least 66% of their proceeds into an unlisted structure linked to the future performance of the business. However, directors declined to recommend this alternative, citing its complexity and the variability of individual investor circumstances.<\/p>\n
Charterhouse said the business offers \u201can attractive asset with unique characteristics as a global animal health pharmaceuticals platform\u201d, pointing to its diversified product portfolio and growing international footprint across Europe and Australasia.<\/p>\n
The private equity firm also believes that Animalcare\u2019s growth ambitions – particularly around research and development and acquisitions – would be better supported under private ownership.<\/p>\n
Haitham Nasri, partner in Charterhouse\u2019s deal team, said: \u201cWe are delighted to be announcing this recommended acquisition of Animalcare, an attractive business with unique characteristics as a global animal health pharmaceuticals platform.”<\/p>\n
\u201cWe look forward to partnering with the Animalcare management team in accelerating Animalcare’s growth and achieving their strategic ambition. We will continue to provide the resources and strategic flexibility required to accelerate R&D investments for the long-term, make the required operational investments and pursue transformative M&A.\u201d<\/p>\n
Animalcare\u2019s board acknowledged that while it remains confident in its long-term strategy, delivering its targets would require sustained investment and carry execution risks, particularly in a volatile macroeconomic environment.<\/p>\n
Animalcare chair Ed Torr said the offer provides both certainty and optionality for shareholders. \u201cAs chair, my priority is to ensure that Animalcare Shareholders have the opportunity to realise fair value for their investment,\u201d he said.<\/p>\n
\u201cWhile the Animalcare Board remains confident in Animalcare’s standalone prospects, delivering our long-term growth ambitions would require a sustained period of investment and execution over a number of years, against a backdrop of increasing macroeconomic uncertainty.<\/em>\u201d<\/em><\/p>\n He added: \u201c<\/em>The offer\u00a0 provides Animalcare Shareholders with immediate value certainty in cash at an attractive premium and, for eligible Animalcare Shareholders, the option to retain an economic interest through the alternative offer.\u201d<\/p>\n The deal has already secured significant backing, with irrevocable undertakings representing around 41.7% of Animalcare\u2019s issued share capital.<\/p>\n Subject to shareholder and court approvals, the transaction is expected to complete in the second or third quarter of 2026.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Shareholders offered 336p per share in cash, representing a 36% premium as board unanimously supports deal<\/p>\n","protected":false},"author":271992,"featured_media":2152294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362,2,120781],"coauthors":[137100],"class_list":["post-2153223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-deals","category-markets","tag-featured-story","tag-north-yorkshire","tag-top-story","tag-yorkshire"],"yoast_head":"\n