Thu, 01 Oct 2015 | BUSINESS SALE
Veterinary group Alnorthumbria has been bought by CVS Group for £7.7 million.
The North East-based practice was founded in 2007 as a result of the merger of the Aln Veterinary Group and The Northumbria Veterinary Partnership, and comprises nine surgeries based across the region.
CVS, itself a large provider of veterinary care with over 300 surgeries across the UK, put down £6.6 million in cash on completion and is to pay a further £1.1m in two tranches, providing that Alnorthumbria's total revenue is more than 111 per cent higher than the year before. It is funding the acquisition from its own coffers.
Alnorthumbria recorded sales of £5.7 million and an adjusted pre-tax profit of £800,000 for the year to 31 March 2015.
Regarding the sale, Simon Innes, CVS Group chief executive said: "Alnorthumbria is a strong fit with the group's existing operations, significantly increasing the Group's presence in the North East and enhancing our large animal and equine business.
"As part of the CVS Group, Alnorthumbria is expected to benefit substantially from better purchasing power as well as overhead synergies."
CVS was set up in 1999 to acquire and run veterinary practices that are already well established in their areas. Its portfolio to date includes five laboratories and four pet crematoria.
Find a business for sale
Financing a business purchase
This recruitment business is a trusted partner in five lucrative sectors, known for its high client retention rates of 98% and long-standing client relationships spanning over a decade. With a rigorous candidate evaluation process, clients can expect...
The company provides a comprehensive range of commercial cleaning services to suit business requirements, including office cleaning, deep cleaning, carpet and hard floor cleaning, window cleaning, washroom services, end-of-tenancy cleaning, and janit...
This dynamic business delivers flexible and temporary agency catering staff solutions across various sectors, leveraging strong client relationships and an excellent local reputation to drive growth. With a robust SEO strategy and 95% of its 99 activ...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.