Charterhouse completes £235m acquisition of Animalcare, signalling private equity interest in veterinary pharma

Charterhouse Capital Partners has finalised its acquisition of Animalcare Group, a leading animal health business, in a deal valued at £235.2 million, highlighting ongoing private equity enthusiasm in the veterinary sector amid market growth driven by rising pet ownership.

Charterhouse Capital Partners has completed its acquisition of Animalcare Group after the York-based animal health business was delisted from the London Stock Exchange, closing a deal first agreed in April.

Animalcare sells products for companion animals, horses and production animals, and has built a portfolio of about 150 pharmaceutical brands, with particular strength in dental, equine and pain management. The company has a presence across Europe and the Asia-Pacific region, and Charterhouse says that breadth gives it scope to grow in a fragmented market that is still being shaped by rising pet ownership, greater owner willingness to treat, wider availability of therapies and stronger veterinary education.

When the transaction was announced, Animalcare shareholders were offered 336 pence a share, valuing the business at around £235.2 million on a fully diluted basis. The cash proposal represented a 36% premium to the company’s closing price on 15 April and a premium to both its three-month and six-month volume-weighted averages. Eligible investors were also given the option to roll over part of their proceeds into a new vehicle linked to the business.

Charterhouse said it would back chief executive Jennifer Winter and her team in pushing ahead with innovation, operational improvements and further acquisitions. For clinicians, the change in ownership is unlikely to alter day-to-day product availability immediately, but it signals continued private equity interest in veterinary pharmaceuticals and related brands.

Image Source: Charterhouse