Ufenau buys Altano to consolidate equine clinics market

The deal saw the GP acquire a controlling stake form the founding family, while high-net-worth individuals Herzog von Croy and Andreas Jacobs acquired a minority stake. The company's founder will also retain a minority stake in the business.

Following the deal, Ufenau managing partner Dieter Scheiff will take a seat on the company's board.

According to a statement, the GP will support the company's acquisitive growth strategy across the DACH region. Furthermore, the firm stated it has already started exclusive negotiations with several regional competitors, with a view to making further bolt-ons.

A source familiar with the matter told unquote" that the GP was keeping an eye on the sector because of its margins and resilience.

Ufenau acquired the business via its fifth fund, Ufenau V, which held a €227m final close in October 2016 and is now 20% invested.

Company
Founded in 1961, Altano manages veterinary clinics focusing exclusively on the equine sector. The business is headquartered in Duelmen, Germany, and has 52 employees.

People
Ufenau Capital Partners – Dieter Scheiff, Ralf Flore (managing partners); Marinus Schmitt (partner); Sebastian Semlitsch (investment director).
Altano Gruppe – Victor Baltus (CEO).

Advisers
Equity – Brian Cave (legal); Sancovia (corporate finance).

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• Topics
• Buyouts
• Healthcare
• DACH
• Germany