EQT seals acquisition of Australian vet care provider for A$1.4 billion
The Swedish equity firm also acquired British pharma firm Dechra earlier in the year.
Swedish private equity firm EQT has acquired VetPartners for a reported A$1.4 billion ($940M/€858.2M). bid.
VetPartners claims to be a leading vet care provider across 267 clinics in Australia, New Zealand and more recently, Singapore, with reported revenue of A$661 million ($417.5M/€396.6M) for the financial year 2023.
This adds to EQT’s portfolio as it acquired London-based veterinary pharmaceutical company Dechra earlier this year for £4.46 billion ($8.9B/€5.1B). In addition, EQT has owned the European and North American vet business IVC Evidensia and its 2,500 clinics since 2014.
Technology and innovation
The transaction, which is subject to customary conditions and approvals, is expected to close around the end of the calendar year.
Aside from the company’s strong veterinary background, EQT hopes to develop VetPartners by investing significantly in diagnostic equipment, technology and innovation.
“We have been highly impressed by the VetPartners organization. As one of the leading global animal health investors, EQT is uniquely positioned to support VetPartners’ continued growth and sustained delivery of high-quality healthcare for the pets that families cherish,” comments David Forde, Investment Advisor and Co-Head of EQT Private Equity ANZ.
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