Cookie use on MRCVSonline
We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies.
If you would like to forward this story on to a friend, simply fill in the form below and click send.

Your friend's email:
Your email:
Your name:
 
 
Send Cancel

Buyer sought for Independent Vetcare, reports suggest
IVC's sale will see a change of ownership for its 300 practices.

Insiders say offers could reach £1.5 billion

The owner of Independent Vetcare (IVC) is rumoured to be preparing to sell it for £1.5 billion, in what would be the sector’s biggest takeover to date, Sky News has reported.

EQT partners, IVC’s controlling shareholder, has instructed bankers at Jefferies to run an auction of the business and its 300 practices. It is seeking offers in the first week of November.

According to Sky News, insiders have said that offers could value the company at up to £1.5 billion. This is compared to the £700 million paid out by BC Partners, which purchased VetPartners in August.

IVC operates in numerous other countries, including Sweden, where it merged with Evidensia Group in 2017.

Commenting on the reports, David Hillier, CEO of IVC said: “There is some current speculation that IVC is potentially seeking additional funding.

"Given the phenomenal growth the company is experiencing this is not particularly surprising and does not imply any change in ownership or strategy.

"For us this is very much business as usual. There is absolutely no change to the underlying business, to the current management team or to the long-term direction of the company.

"We will continue our strong growth, our investment in people, premises and processes in order to provide our stated aim of ‘exceptional veterinary care’”.

 

Become a member or log in to add this story to your CPD history

Hen charity starts work on first rehoming centre

News Story 1
 The British Hen Welfare Trust (BHWT) has begun work on its first hen welfare and education centre. Located in north Devon, the 250 square metre building will comprise a state-of-the-art rehoming centre and fully equipped veterinary clinic.

Image © Guy Harrop  

Click here for more...
News Shorts
Former RCVS president to chair new Horse Welfare Board

Former RCVS president Barry Johnson has been appointed as the independent chair of a new Horse Welfare Board. Barry, who is also past chairman of World Horse Welfare, was selected by an industry panel including the British Horseracing Authority, the Racecourse Association and The Horsemenís Group.

The welfare board aims to develop a new welfare strategy covering the whole racing industry. Mr Johnson said: ďIím very pleased to have been asked by racing to take on this role and by the sportís commitment to continuous improvement in the welfare of racehorses."