
Inflexion's Medivet bolts on Bartram & Patrick
Inflexion-backed Medivet Partnership has acquired UK veterinary surgery business Bartram & Patrick from its family owners.
The bolt-on comes eight months after Inflexion acquired a minority stake in Medivet in order to support its acquisitive growth strategy.
According to a statement, Medivet now has 210 branches across the UK, up from 160 when Inflexion first invested in the business. According to publicly available records, the business generated a turnover of £67m in the year ending in April 2016, with EBITDA of £12m.
The veterinary sector has attracted significant interest from private equity players in recent years, with the Nordic and UK markets proving particularly popular, as unquote" recently reported. GPs have also have made progress in the DACH region’s veterinary space, though regional variation in the law continues to create challenges.
Company
Headquartered in Yorkshire, Bartram & Patrick is a veterinary surgery business. The business has a headcount of 30 and operates out of two practices in Pontefract and South Elmsall.
People
Inflexion Private Equity – David Whileman (head of partnership capital); Mark Williams (partner); Andrew Neville (assistant director); Chloe Holding (investment executive).
Medivet – Arnold Levy (CEO).
Advisers
Vendor – Lupton Fawcett, Dan McCormack (corporate finance); CW Dix Accountants, Chris Dix (tax).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater