- EQT brings in Nestlé in a minority stake in IVC Group, the leading veterinary services provider in Europe
- IVC Group enters into a partnership with Nestlé Purina PetCare EMENA and will continue to operate as an independent business
- EQT remains the largest shareholder and is committed to invest in IVC’s continued growth
EQT today announced the decision to bring in Nestlé through a minority stake in IVC Group (”IVC” or “the Company”) to support continued growth in the Company’s next development phase. IVC also enters into a partnership agreement with Nestlé Purina PetCare EMENA. Through the partnership, IVC will be able to leverage the expertise of Nestlé Purina as a leading expert in pet health, pet nutrition and scientific innovation and gain access to Nestlé Purina’s unique product offering to support its leading-edge veterinary care.
For Nestlé Purina, this partnership will strengthen its collaboration with scientists, veterinarians and pet care professionals as key partners to help deliver advanced pet food solutions and first-class pet care services. Deeper knowledge of pets´ and pet owners’ needs will enhance Nestlé Purina’s ability to develop innovative products and solutions tailored to meet the specific needs of cats and dogs. IVC will continue to operate as an independent business.
Headquartered in Bristol, UK, IVC is a leading veterinary services provider with a network of more than 1,100 clinics and hospitals and approximately 16,000 employees across Europe. Founded in 2011, IVC operates a decentralized model promoting innovation and clinical freedom balanced with integrated support functions such as procurement, veterinary advisors and clinical boards.
IVC was acquired by EQT in December 2016, and in May 2017 the Company was merged with Evidensia, a Swedish veterinary group (also owned by EQT), which at the time operated a network of 180 clinics and hospitals across the Nordics and Central Europe. Since then, IVC has transformed into the leading European veterinary services provider through accelerated organic growth and a large number of strategic add-on acquisitions.
Per Franzén, Partner and Co-Head of EQT Private Equity, commented: “EQT is pleased to welcome Nestlé as a new blue-chip investor and partner to IVC. The new partnership constitutes a solid foundation for continuing IVC’s growth journey across the European markets.”
The transaction is subject to regulatory approval. It is expected to close in Q2 2019.
Per Franzén, Partner and Co-Head of EQT Private Equity, +46 8 506 554 50
EQT Press Office, [email protected], +46 8 506 55 334
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
About Independent Vetcare
IVC is the largest and most diversified vet services platform in Europe with more than 1,100 clinics and hospitals across 10 countries. IVC employs approximately 16,000 FTEs, including over 4,000 veterinarians.
More info: www.ivc.group