Charterhouse completes acquisition of Animalcare in £235.2 million deal, eyeing international growth

Charterhouse Capital Partners has finalised its takeover of York-based Animalcare Group, aiming to boost R&D and expand internationally in the resilient pet healthcare market.

Charterhouse Capital Partners has completed its acquisition of Animalcare Group after the Yorkshire-based veterinary medicines business was delisted from the London Stock Exchange.

Animalcare, headquartered in York, develops and sells products for companion animals, horses and farm animals, and has a portfolio of about 150 animal health pharma brands. Its main franchises are in dental, equine and pain treatments, with operations across Europe and the Asia-Pacific region.

The deal had been agreed in April at about £235.2 million, with shareholders offered 336p a share in cash. That represented a 36% premium to Animalcare’s closing price on 15 April and also allowed eligible investors to roll part of their proceeds into a new vehicle to keep an economic interest in the company’s future performance.

Charterhouse, one of Europe’s longer-established private equity groups, said the investment fits its strategy of backing healthcare businesses with scope for operational improvement and bolt-on acquisitions. The firm said it will work with chief executive Jennifer Winter and her team to support further investment in research and development, improve efficiency and pursue international expansion.

The animal health market remains fragmented and comparatively resilient, helped by rising pet ownership, growing treatment availability and better veterinary education. Charterhouse argues that combination leaves Animalcare well placed for long-term growth.

Image Source: Charterhouse