Inflexion has completed a Partnership Capital, minority investment in Medivet Partnership, an independent veterinary clinic operator in the UK vet market.
Medivet was founded in 1986 and now operates over 160 practices. Led by a team of veterinary surgeons with 300 years collective experience, the business has enjoyed exceptional growth.
Medivet has capitalised on industry deregulation that stimulated consolidation in its market, expanding through the acquisition of practices across the UK. The business harnesses favourable market dynamics as the circa GBP2 billion UK vet industry is buoyed by rising medical expenditure and insurance penetration.
Medivet sought a minority investor to help accelerate the business’s established acquisitive growth strategy.
David Whileman, head of Partnership Capital, Inflexion, says: “Partnership Capital continues to attract and invest in successful businesses of scale; this minority investment represents our third in as many months. Medivet is a large independent and highly respected business within its industry. We are delighted to invest alongside an outstanding management team with a proven strategy for growth. We look forward to working closely with the Medivet team.”
Arnold Levy, chief executive officer, Medivet, says: “We are proud of our business today, having overseen substantial growth throughout the UK. As vets, we understand our market and are passionate about providing very high levels of client service and patient care. Inflexion shares our vision of sustainable expansion; their tailored minority investment solution made them a natural fit. We will continue to lead Medivet and look forward to working with Inflexion to develop this business further.”
