Korona Invest sold Omaeläinklinikka, a Finnish veterinary chain, to IVC Evidensia, Europe’s largest veterinary care provider. The acquisition strengthens Evidensia’s position as Finland’s largest provider of high-quality veterinary services.
Omaeläinklinikka and Evidensia together form the largest veterinary chain in Finland with 50 clinics and over 1,400 employees. Evidensia’s net sales in the previous financial year were approximately EUR 70 million and will increase to approximately EUR 90 million after the transaction.
The pet market has boomed during the last few years, catching investor attention. The number of pets and spending per pet are on a steady rise. Developments in veterinary science have increased the availability of more sophisticated treatments and life expectancy of pets. More than ever, pets are seen as a family members. Pet owners expect increasingly sophisticated care and are willing to pay for it. All of these factors made Omaeläinklinikka a very attractive target for both local and international investors.
The Clairfield partnership played an important role in identifying and bringing in potential international buyers. With help from Clairfield healthcare experts, more than 20 serious buyer candidates were approached. Almost all of the NDAs signed were from non-Finnish buyers. In the first round, 80% of indicative bids received were from international buyers. The strong international interest enabled us to create and maintain strong competitive tension in the process. Ultimately the pressure resulted in an attractive offer close to home from IVC Evidensia and another great outcome for recurring client Korona Invest.
Read more here: Clairfield deal of the month Omaeläinklinikka