Mubadala injects £350Mn in British veterinary firm IVC Evidensia

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Abu Dhabi wealth fund, Mubadala has reportedly invested around USD 496 million (£350 million) in IVC Evidensia- Europe’s leading veterinary care company. Based in Bristol, UK, IVC Evidensia runs a wide network of over 1,500 veterinary hospitals and clinics in nearly 12 nations across Europe, providing care to nearly four million pets.

Established in the year 2011, the firm operates with a decentralized network the encourages innovation along with clinical freedom within its operations, supplemented by a wide range of integrated services like clinical boards, veterinary advisers, and procurement.  

IVC Evidensia is highly recognized for introducing new standards for staff wellbeing and clinical excellence within the industry. As per reliable sources, IVC was initially acquired by EQT Private Equity in December 2016 and later it merged with Evidensia- a Sweden-based veterinary group in May 2017. 

Following this, the company has strengthened its mark as Europe’s prominent veterinary solutions provider through organic growth and strategic acquisitions.

According to Justin Sabet-Peyman, Head of Consumer, Mubadala, the company’s latest investment in IVC Evidensia goes hand in hand with the firm’s aim to invest in market-leading consumer businesses in various industries.  

Justin also mentioned that the company has partnered with Nestlé, Silver Lake, EQT, along with IVC’s leading management team to support its innovation and leadership in pet care solutions.  

The latest investment of Mubadala in IVC Evidensia joins its rising global portfolio of advanced consumer businesses, such as Retail Ventures Limited, Truck Hero, and Coupang. In the consumer industry, Mubadala aims at investing in businesses that are led by strong management teams with prominent positions in leading markets.     

In other news, Mubadala sold nearly USD 1.5 billion two-tranche bonds, returning to the debt markets within three months of raising close to USD 1.1 billion.

Source Credit: https://www.gulftoday.ae/business/2021/05/31/mubadala-invests-350m-in-uk-veterinary-care-firm