BC Partners seeking £3bn VetPartners sale

BC Partners is looking sell portfolio company VetPartners for £3bn, and has appointed JP Morgan and Jefferies to prepare an auction for the business it acquired in 2018 for around £720m.

A number of large buyout firms have reportedly begun to prepare bids for the company.

Several private equity firms already hold investments in the UK veterinary sector: CVC Capital Partners has a stake in rival operator Medivet, while EQT-backed IVC Evidensia is another major player in the sector.

According to the company’s website, VetPartners, which was founded by Jo Malone in 2015, employs roughly 7,500 people in the UK at 500 sites, including its York headquarters. In 2019, it expanded its operations into Europe with the addition of practices in Italy, and now also has a presence in France, Germany, Ireland, Portugal and Spain.

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BC Partners is a leading international investment firm with over €20bn of assets under management in private equity, private credit and real estate. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe.

Since inception, BC Partners Private Equity has completed 109 private equity investments in companies with a total enterprise value of €135bn and is currently investing its tenth private equity fund.

Source: Private Equity Wire

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