IVC EVIDENSIA acquired by SILVER LAKE / NESTLE
Context
Silver Lake and Nestle led a EUR3.5 billion capital investment in IVC Evidensia, significantly increasing the group's valuation. The deal allowed EQT VII to partially exit its position, while EQT IX reinvested to remain the majority shareholder. The transaction served as a private alternative to a previously considered IPO. Silver Lake's entry is designed to accelerate the group's digital transformation, while Nestle's increased stake facilitates deep collaboration between veterinary clinical care and nutritional science. This "pet-tech" and "pet-health" convergence aims to create a data-driven ecosystem for pet owners, enhancing diagnostic accuracy and tailored health solutions across IVC's pan-European network.
IVC EVIDENSIA, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
IVC Evidensia is Europe s leading veterinary care provider and one of the world s largest animal healthcare networks, operating across more than 20 countries. The group functions through a decentralized operational model that preserves local clinical independence while providing the benefits of a large-scale international support infrastructure. Its network encompasses primary care practices, 24/7 emergency clinics, and advanced specialist referral centers. Beyond clinical medicine, the group integrates a holistic ecosystem of services, including veterinary telemedicine, specialized nutrition, and pharmaceutical distribution.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (GBP)
Other operations with IVC EVIDENSIA
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 10/2021 | IVC EVIDENSIA | VETONE | FRANCE | Vet Clinics |
REFERENCES
Valuation range: EV 3b - 100b GBP
Revenue range: 1b - 3b GBP
EBITDA range: 450M - 900M GBP
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Acquirer: silver lake