Bristol-based Independent Vetcare Ltd has bought Cumbria veterinary practice Galemire Vets for an undisclosed sum.
Galemire Vets has two surgeries in Cleator Moor and Workington in the Lake District. All the work performed at the practice is generally of a small animal nature and they provide a full range of veterinary services.
The departing shareholders will remain with the business for a period of time. All of the staff will be retained and the company will trade under the existing brand.
Founded in 2011, the Bristol-headquartered business, Independent Vetcare, was set up by working vets from the consolidation of several large independent veterinary groups from across the country. Over the last several years, more veterinary practices joined the company than any other group in the UK. In 2017, they combined with Evidensia, a reputed veterinary group already well established across Northern Europe. In 2019, the combined group unified under the name IVC Evidensia. IVC Evidensia is Europe’s leading veterinary care provider based across eleven countries.
The underlying strategy of IVC Evidensia has been to create a framework that enables local management to thrive. Their role is to provide the greater resources, skills and procurement synergies that come from being part of a bigger group.
Rob Richardson, Corporate Finance Partner at Azets in Manchester led the deal and was supported by Nan Hao, Corporate Finance Assistant Manager while Jenny Pape, Tax Partner provided tax advice. Vaughan Jones at Burnetts Solicitors provided legal advice to the vendors.
Rob Richardson, Corporate Finance Partner at Azets in the North West said: “It’s always good to see strong long-established businesses move into new hands to enable a new chapter of growth. We were delighted to advise the shareholders on the sale to Independent Vetcare. We’ve worked with them on a variety of projects over the last few years and it’s great to see the success of their company being recognised.”
“Despite the challenges of the pandemic and the uncertain economic outlook, animal ownership has increased during the pandemic and Independent Vetcare will be well placed to take advantage of this as the demand for veterinary services increases.”