I Asset Management, BaltCap acquire Dr Vet

Under the deal, IAM Petcare Growth Fund will own 65% of Dr Vet while BaltCap will own 35% through its Growth Fund. 

The holding company, Vet Ventures, owns five clinics in the Lithuanian capital and plans to open and acquire a few more clinics this year.

The new sponsors are seeking growth through organic expansion opportunities and further acquisition targets in the Baltics and neighbouring countries.

BaltCap's Growth Fund invests EUR 1m- EUR 10m in companies worth EUR 1m-EUR 15m, it closed in June 2017 at EUR 40m. 

IAM has a specialist Petcare Growth Fund, which has a target size of EUR 25m after launching in early 2021. It aims to create a Baltic and CEE chain of veterinary clinics with more than 50 clinicians by the end of the holding period, which is 7+2. 

Private equity has completed a slew of veterinary deals across Europe in the past year. CVC bought UK-based Medivet in a deal that values the company at GBP 1bn, Axcel bought Danish VetGruppen and Meridia increased its stake in Vetsum, among other deals. 

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• Topics
• Healthcare
• Buyouts
• Baltics
• Lithuania
• Baltcap Management Ltd