European veterinary care provider IVC Evidensia (IVC), one of Europe’s largest veterinary care providers, has announced an expanded partnership among its shareholders to support the group in driving its next phase of accelerating growth.
The aggregated new investment from the expanded partnership transaction totals EUR3.5 billion and values IVC at an enterprise value of approximately EUR12.3 billion.
IVC was acquired by EQT Private Equity in December 2016, through its EQT VII fund, and in May 2017 the Company merged with Evidensia, a Swedish veterinary group acquired by EQT Private Equity in 2014. EQT has supported IVC through hiring a new leadership team around CEO, Steve Clarke, and Chairperson, Kate Swann, and revenue has more than tripled since the merger.
As part of its long-term commitment to IVC, EQT Private Equity is making a substantial investment through its EQT IX fund, and with the transaction EQT VII is partially exiting its stake but will remain invested in the Company. As its largest shareholder, EQT Private Equity’s new investment is a validation of the successful partnership and continued potential for substantial growth in IVC.
Source: Private Equity Wire
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