Meridia Private Equity has entered into a definitive agreement to sell its majority stake in Vetsum, the leading independent veterinary care provider in Spain, to AniCura Group, one of Europe’s leading providers of veterinary care with presence in 14 countries, owned by Mars Veterinary Health.
Meridia Private Equity first invested in Vetsum with the goal of supporting its organic and inorganic growth plans in order to consolidate its position as the leading independent platform of veterinary hospitals in Spain. It subsequently became its majority shareholder through a second capital injection aimed at further accelerating Vetsum’s ‘buy and build’ consolidation strategy.
This transaction, with closing subject to customary antitrust approval, will become Meridia Private Equity I’s third exit, following successful previous divestments of stakes in Kipenzi (2019) and Sosa Ingredients (2021). This fund was launched in 2016 with an 8 year horizon. It is currently reaping the benefits as realisations are carried out within its portfolio, where great value has been added under Meridia’s tenure.
Jose María Mateu, Vice President of Private Equity at Meridia Capital and Vetsum’s Board Member, commented: “We are delighted to have played such a prominent role in the consolidation and further development of the Spanish veterinary care industry, being able to promote animal welfare while creating value for our investors. We would like to thank Vetsum’s outstanding management team for their decided commitment to the project over the past two years, during which Vetsum has doubled the number of hospitals in its portfolio while crystallizing significant synergies between them”.
Meridia Capital’s Chairman, Javier Faus, said: “Vetsum marks an important milestone within Meridia Capital’s Private Equity practice. This deal represents the vehicle’s most successful transaction to date. We are grateful for the trust and support we have received from our investors and look forward to further enhancing the value of our portfolio”.
Meridia Private Equity has been advised by Arcano Partners on this transaction.
About Vetsum
Vetsum is the leading independent veterinary care provider in Spain with a growing portfolio of 20 hospitals, including some of the most prestigious and prominent centers in the country. With a team of over 400 specialists, the latest veterinary technology, and modern facilities, Vetsum’s hospitals offer a wide range of veterinary services including primary and critical care, surgeries and advanced diagnostics.
For more information please visit: www.vetsum.com
About Meridia Capital
Meridia Capital Partners is a leading alternatives fund manager investing in private markets in Spain with over 850 million euros of equity raised since inception plus close to 250 million euros of assets under advisory.
Throughout the firm’s over 15 years of experience and various vehicles, Meridia has consistently outperformed market returns for its investor base, which includes some of the world’s largest and most noteworthy institutional groups.
In 2016 Meridia Capital launched Meridia Private Equity, a €105 million private equity fund that targets companies headquartered in Spain. In addition, Meridia is also active in real estate and venture capital.
Vetsum was Meridia Private Equity’s seventh investment and will potentially become its third exit, following the divestments of its stakes in: (i) Kipenzi, a leading integrated pet care specialist in Spain and Portugal (now merged with Tiendanimal to create Grupo Iskaypet); and (ii) Sosa Ingredients, a leading Spanish designer, manufacturer and distributor of technical food ingredients for the gastronomy segment. Meridia Private Equity’s current portfolio includes: (i) Grupo Andilana, a full-service multi-concept casual dining restaurant chain and hotel operator in Spain; (ii) Futbol Emotion, a leading omnichannel football equipment specialist retailer in Southern Europe; (iii) Volotea, a Spanish-based airline offering point-to-point flights between small-mid sized cities throughout Europe at affordable prices; and (iv) Zummo, a global incumbent in the design, manufacturing and commercialization of automatic fresh fruit squeezing and processing machines.
For more information please visit: www.meridiacapital.com
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