EQT's IVC bolts on Vets Now

The deal comes two years after EQT acquired Independent Vetcare from Summit Partners in a deal that reportedly included a £150m debt package. The GP subsequently merged Independent Vetcare with portfolio company Evidensia to create IVC.

Following the latest deal, Vets Now CEO Mark Ross will continue to lead the business, which will operate as an autonomous entity within the wider group.

EQT is invested in IVC via its €4.75bn sixth fund, which closed in 2011.

Company
Founded in 2001 and headquartered in Dunfermline, Fife, Vets Now provides emergency veterinary care for pets. The business operates from 58 sites across the UK and generated EBITDA of £3.8m from a turnover of £41.4m in the year ending in March 2017, according to publicly available documents.

People
Independent Vetcare Group – Stuart Caton (commercial director).
Vets Now – Mark Ross (CEO).

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