Ufenau-backed Altano buys Pferdeklinik Kirchheim

The GP supported the transaction with equity from Ufenau V German Asset Light, a €227m vehicle that held a final close in October 2016.

As a result of the transaction, the GP has added an extra 37 staff to its horse veterinary group, which is the first of its kind in Germany.

Ufenau made the first transaction of its buy-and-build strategy in June 2017, buying a clinic in Duelmen for an undisclosed sum. It then bolted on Karthaus to create a company with an overall enterprise value of around €10m.

The GP said the German equine medicine market is attractive for consolidation, after a change in EU law last October opened it up for private investment. It hopes to bolt on an additional 10-20 clinics in the next five years.

Company
Founded in 1986 and based in Kirchheim, Baden-Württemburg, Pferdeklinik Kirchheim is a specialist equine clinic. It has two operation rooms, a laboratory, a pharmacy and 19 boxes including 11 intensive care boxes. It employs 37 people and treats 4,000 patients a year.

People
Ufenau Capital Partners – Ralf Flore (managing director).
Altano Group – Victor Baltus (CEO).
Pferdeklinik Kirchheim – Ulrich Walliser (CEO).

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• Topics
• Expansion
• DACH
• Healthcare
• Germany
• Build-up
• Ufenau Capital Partners