16/12/2011Posted : December 16, 2011
Independent Vetcare completes Berry House acquisition

August Equity LLP's ("August Equity") veterinary services buy-and-build platform, recently renamed Independent Vetcare Limited ("Independent Vetcare"), has completed the bolt-on of Berry House Group ("Berry"). 

Berry has been established for over 50 years and operates from two sites in North Hertfordshire.

The acquisition broadens Independent Vetcare's geographical coverage from the South West to the South East.

Independent Vetcare is also pleased to announce the appointment of David Hillier as CEO of the group. Mr Hillier is a skilled CEO with an extensive track record in the healthcare sector and buy-and-builds, having been CEO of ADP Dental.

August Equity announced the Independent Vetcare investment in October, when its managed funds committed acquisition facilities to fund the buy-and-build. The group consists of Advanced Vetcare Limited and Rowe Veterinary Group, both based in the South West as well as Berry.

Mr Hillier said: "I am delighted to be joining Independent Vetcare.  The group is a leading veterinary care provider and we have a strong team in place to develop our services and market presence.  The veterinary services sector is a very exciting market with good dynamics and ample opportunities for consolidation. We have a number of acquisitions in the pipeline which we expect to complete in the coming weeks."  

David Lonsdale, investment director at August Equity, said: "We are delighted to have secured David's appointment.  He has a proven track record for creating value within private equity backed businesses and his buy-and-build experience will enhance the group's consolidation drive.  We are also delighted with the acquisition of Berry which expands the group's geographical footprint."