CIP Merchant Capital backs 7Star

The investment comprises an injection of €2.6m for an equity interest of 49% and a further €3.5m by way of an interest-free shareholder loan.

7Star intends to use the fresh capital deployed by CIP to finance its expansion by opening new veterinary hospitals and clinics located across northern Italy.

CIP also announced it is currently seeking to syndicate a minority stake of its investment in 7Star.

Company
Established in 2016 and based in Grassobbio, near Bergamo, 7Star manages and operates Happy Friends, a veterinary centre that offers first aid, clinical and diagnostic services, surgery and vaccinations, and provides grooming and training for pets. The company generated revenues of €600,000 in the first nine months of 2018.

People
7Star – Chicco Reggiani, Christian La Monaca (co-founders).

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• Topics
• Southern Europe
• Consumer
• Healthcare
• Expansion
• Italy