Independent Vetcare acquired by EQT
The parties involved have decided not to disclose the value of the transaction.
Scandinavian investment firm EQT has signed an agreement to acquire Independent Vetcare (IVC) from Summit Partners.
The parties involved have decided not to disclose the value of the transaction, which is expected to close in early 2017.
IVC was founded in 2011 through the merge of three veterinary groups. Reportedly the third largest veterinary services provider in the UK, it has just under 300 sites and employs around 2,700 people.
Global growth equity company Summit Partners has been its principal investor since July 2014. But according to David Hiller, IVC's CEO, the business began looking for a new partner earlier this autumn to continue its development.
EQT already owns Evidensia, one of the leading veterinary groups in Europe.
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