Intention to combine Independent Vetcare and Evidensia
- Independent Vetcare (IVC) and Evidensia announces intention to combine their businesses
- The combination will create the undisputed leader of veterinary care in Europe with about 500 clinics across 8 countries
- David Hillier, CEO of IVC, will become CEO of the combined group
Founded in 2011, IVC is the fastest growing veterinary group in the UK with more than 315 clinics throughout the United Kingdom and a reputation for promoting clinical freedom and innovation among its practices. IVC employs over 800 veterinarians and cover the entire range of services from first opinion to specialist referral clinics. In December 2016, EQT acquired IVC from Summit Partners.
Evidensia is a leading veterinary group in Northern Europe with more than 180 clinics and hospitals and over 1200 veterinarians across the Nordic region and Central Europe. Evidensia was established in 2012 in connection with the merger of some of the largest and most reputable veterinary clinics and hospitals in Sweden. Since then, the company has grown rapidly organically and through a large number of add-on acquisitions. In October 2014, EQT acquired Evidensia from Valedo.
David Hillier, CEO of IVC says: “Our aim is to build the strongest and most respected veterinary group in Europe, founded on principles which are common to all of our practices: A passion for clinical care, a belief in teamwork, respect for the individual and entrepreneurship. The strong geographical presence of Evidensia in Northern Europe and of IVC in the United Kingdom is likewise complementary and will enable us to develop a dynamic network of leading clinical facilities which will benefit from our shared best practice and our improved purchasing power.”
Martin Tiveus, CEO of Evidensia says: “Having taken an active part in the IVC acquisition process, I am truly impressed with what David and his team has achieved so far. A merger between Evidensia and IVC will create the largest veterinary group in Europe and will benefit both pet owners, patients and our employees across Europe. I am proud of the team I have put together at Evidensia and I wish David and his new combined team all the best in shaping the future of veterinary care.”
Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI and EQT VII, says: "I would like to thank Martin for his outstanding contributions during his short tenure as CEO of Evidensia. He has developed the company and also played a key part in EQT's acquisition of IVC. At EQT, we look forward to supporting David and his team in their work to create a true leader in European veterinarian care."
The combination of the businesses is expected to be completed during the second quarter of 2017. The company will be owned jointly by funds EQT VI and EQT VII.
David Hillier, CEO of IVC, +44 1225 481 520
Kerstin Danasten, EQT Press Contact, +46 8 506 55 334
EQT is a leading alternative investments firm with approximately EUR 31 billion in raised capital across 21 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com