EQT, through its BPEA Fund VIII, agreed to acquire VetPartners from National Veterinary Associates (NVA), a portfolio company of JAB Holding. The transaction represents a major entry for EQT into the ANZ veterinary services market, following its extensive track record with IVC Evidensia in Europe. The strategic objective is to consolidate VetPartners' leadership position through significant capital investment in digital tools, advanced diagnostic equipment, and recruitment initiatives. The deal was finalized through a fast-tracked auction process where EQT was selected as the preferred bidder over rival private equity firms. Under EQT's ownership, the group will continue its aggressive expansion across the fragmented Australasian market while enhancing its specialized veterinary training centers and managed services division (United Vets Group).

VETPARTNERS, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 12.8x average currently observed in the Healthcare & Pharma sector.

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