UNIVET acquired by INFRAVIA CAPITAL
Context
InfraVia Capital Partners acquired a minority stake in Univet from Platina Equity Solutions, which had been a partner since 2018. The transaction was structured as a combination of secondary share purchases and a primary capital increase, financed entirely through equity from InfraVia's EUR5 billion European Fund V. The founding management and associated veterinarians retained the majority of the capital. The investment is intended to accelerate Univet's buy-and-build strategy, supporting its ambition to reach EUR100 million in revenue by the end of 2022. This deal highlights the trend of infrastructure funds entering the veterinary sector, attracted by the predictable, recurring nature of animal healthcare services and the massive potential for market consolidation.
UNIVET, which reported an EBITDA margin of in 2022, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Founded in 2008, Univet is a major French provider of veterinary care, specializing in domestic animals. The network operates a decentralized "liberal" model where veterinary practitioners remain core shareholders of their practices. Univet centralizes non-clinical tasks such as human resources, accounting, marketing, and supply chain management, allowing medical teams to focus on care. By mid-2022, the network included nearly 150 clinics and practices across France and Belgium.
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Similar deals in Health Providers
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2022 | EURAZEO | IMAPOLE | FRANCE | Radiology |
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| 07/2022 | LATOUR CAPITAL | PHARMACIE LAFAYETTE - GROUPE HYGIE31 | FRANCE | Pharmacy |
| 07/2022 | ANDERA PARTNERS | GROUPE RESONANCE IMAGERIE | FRANCE | Radiology |
| 06/2022 | TRITON PARTNERS | ESPERI CARE | FINLAND | Nursing Homes |
| 06/2022 | EURAZEO | SEVETYS | FRANCE | Vet Clinics |
| 06/2022 | ARDIAN | SIMAGO | FRANCE | Radiology |
| 04/2022 | GROUPE BRUXELLES LAMBERT | AFFIDEA | NETHERLANDS | Radiology |
| 02/2022 | MEINE RADIOLOGIE | ALERIS - RADIOLOGY | SWEDEN | Radiology |
| 02/2022 | PARTNERS GROUP | Forefront Dermatology | UNITED STATES | Outpatient Care |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: infravia capital