VetPartners Set for Positive Transformation with EQT Acquisition

VetPartners Set for Positive Transformation with EQT Acquisition

(IN BRIEF) EQT is set to acquire VetPartners, the largest provider of veterinary services in Australia and New Zealand, from National Veterinary Associates, Inc. Through this deal, EQT plans to support VetPartners’ clinical teams in delivering top-quality care to animals. They will invest in cutting-edge medical equipment and provide resources for innovation. EQT is also committed to enhancing the work environment for VetPartners’ frontline teams through recruitment, training, professional development, and mental health programs. The transaction is expected to close by the end of the year, and it brings BPEA Private Equity Fund VIII closer to its investment target.

(PRESS RELEASE) STOCKHOLM, 11-Oct-2023 — /EuropaWire/ — EQT AB, a purpose-driven global investment organization focused on active ownership strategies, is thrilled to announce its forthcoming acquisition of VetPartners, Australia’s premier provider of veterinary services, in a deal with National Veterinary Associates, Inc. (NVA).

Founded in 2016, VetPartners has solidified its position as the largest veterinary services provider in Australia and New Zealand, with an expanding presence in Singapore. The company’s extensive network comprises community-based general practice clinics and specialty hospitals, collectively serving over 3.2 million animal visits annually. VetPartners offers a broad spectrum of care, ranging from basic preventative healthcare services to advanced, intricate surgical procedures.

Leveraging its global expertise in the animal health sector, EQT will provide VetPartners’ medical professionals with unwavering support to continue delivering the highest-quality clinical care to the animals under their supervision. EQT is committed to making substantial investments to ensure VetPartners’ clinical teams have access to cutting-edge medical equipment, digital tools, and innovation resources. Furthermore, EQT plans to allocate significant resources to advance VetPartners’ mission of fostering a sustainable and positive work environment for its frontline teams. This commitment includes a dedicated focus on recruitment initiatives, enhanced training programs, ongoing professional development, and comprehensive mental health initiatives.

Mark Jeffery, CEO of VetPartners, says, “We are delighted to welcome EQT as a partner given their strong global track record in animal health and healthcare more broadly. Together, we will continue to be an advocate for the advancement of the veterinary profession, fostering a collegiate community of professionals delivering the highest-quality healthcare services to pet parents in the region with a common mission to improve the comfort and well-being of animals.”

Dr Brett Hodgkin, Chief Veterinary Officer of VetPartners, says, “I’m excited by the possibilities that today’s announcement will bring to the health, well-being, and welfare of the animals we serve. We believe that together with our new investment partner EQT, we can drive positive change in animal health outcomes, while also striving to build community clinics and hospitals that are an employer of choice for our vets, nurses and all 4,300 animal advocates within our team.”

David Forde, Investment Advisor and Co-Head of EQT Private Equity ANZ, concluded, “We have been highly impressed by the VetPartners organisation, and the leading position it has built in the region through its partnership with over 1,300 passionate vets and over 3,000 nurses and clinical support staff serving their local communities. 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.”

The completion of this transaction remains contingent on customary conditions and approvals and is anticipated to conclude by the end of the calendar year.

With this strategic move, BPEA Private Equity Fund VIII is set to be 35-40 percent invested, inclusive of closed and/or signed investments, announced public offers (if applicable), and adjustments based on the target fund size, all subject to standard regulatory approvals.

About EQT
EQT is a purpose-driven global investment organization with EUR 224 billion in total assets under management (EUR 126 billion in fee-generating assets under management) within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About VetPartners
VetPartners is the largest vet services provider in Australia and New Zealand with more than 260 clinics and hospitals. VetPartners employs more than 4,300 staff including more than 1,300 vets.

More info: vet.partners

Media contacts:
Australian media inquiries: roger@domestiqueconsulting.com.au, +61 401 278 906
EQT Press Office, press@eqtpartners.com

SOURCE: EQT AB