Latest United Veterinary Care News
Apr 23, 2021
, acquiring Atlantic Street Capital’s shareholding in the fast-growing U.S. national group of primary, specialty and emergency veterinary practices April 23 2021 Nordic Capital invests behind UVC’s next stage of growth, supporting its mission to provide leading care quality through empowered, passionate & dedicated veterinary professionals The partnership will provide UVC with resources to accelerate growth, offer best-in-class career opportunities for veterinary practitioners and further broaden its leading offerings for pets and the people who care for them Nordic Capital  , a leading global healthcare investor, today announced the agreement to invest in United Veterinary Care (“UVC”), a high-growth veterinarian-led group of primary, specialty and emergency care veterinary practices with a national presence in the United States. As part of the transaction, Nordic Capital will acquire the shareholdings controlled by Atlantic Street Capital and joins a broad base of UVC’s veterinary owner-practitioners as a major shareholder. UVC was founded with the vision of improving the lives of all pets and pet parents. With this ambition, the company has grown rapidly, now encompassing more than 60 veterinary practices operating in 13 U.S. states. UVC currently employs more than 1,200 dedicated professionals, including more than 250 veterinarians, and cares for more than three hundred thousand pet patients annually. Nordic Capital’s investment in UVC lies at the core of the firm’s healthcare investment strategy, which has in aggregate driven the deployment of more than $8bn of equity capital in helping healthcare companies grow since 1989. Nordic Capital was also the majority owner of the leading European veterinary chain Anicura from 2014 to 2018, helping the company grow fourfold during its partnership with Nordic Capital. “We have deep expertise in the veterinary services market and are truly excited to partner with UVC to set the standard for future veterinary care. UVC holds a unique market position based on its outstanding reputation for care quality, trusted customer relationships and strong growth potential. We are impressed by UVC’s dedicated team of professionals, culture and focus on clinical excellence, as well as its track record of organic and acquisitive growth,” said Thomas Vetander, Partner, Nordic Capital Advisors. Atlantic Street Capital, a private equity firm targeting entrepreneurial businesses poised for the next level of growth, has supported UVC’s strong acquisitive and organic growth since 2019. “We are proud to have partnered with management to build UVC into a leading veterinary practice group,” said Andy Wilkins, Co-Chief Executive Officer at Atlantic Street Capital. “The management team, led by Scott Crawford, DVM, has worked tirelessly to build the business while maintaining industry-leading standards of care. We are thrilled to see the company partner with Nordic Capital, who have followed the company closely and with whom we have discussed a potential transaction for more than a year. We wish UVC continued success.” Partnering with exceptional veterinary professionals and providing seamless support to enable practitioners’ focus on clinical work is at the core of UVC’s operating model. To achieve this, the company has built a strong support organization, including an industry-leading support center in Florida. In addition, UVC is focused on offering veterinary professionals long-term clinical development opportunities and training, and a community of passionate and dedicated colleagues. “I would like to share my excitement about our new partnership with Nordic Capital,” said Scott Crawford, DVM, CEO of UVC. “Our new partners’ experience in supporting high quality veterinary care and other provider service organisations to achieve sustained growth will serve us well. I am particularly pleased with the strong cultural fit which made Nordic Capital our partner of choice.” The transaction is expected to be completed following receipt of customary regulatory approvals. Kramer Levin Naftalis & Frankel LLP acted as the legal advisor, and Jefferies LLC as financial advisor to Atlantic Street Capital. Kirkland & Ellis LLP acted as the legal advisor to Nordic Capital.