Baker Tilly advises on sale of vet centre to major London private equity firm

Baker Tilly Corporate Finance has advised on the sale of Willows Veterinary Centre and Referral Service to London-based private equity firm Sovereign Capital.

Solihull-based Willows Veterinary Centre and Referral Service was one of the first private small animal referral practices in the UK and has been providing top-quality care for referred patients for the last 22 years.

Sovereign Capital is a UK-based private equity specialist, investing in the healthcare services, education & training and business support services sectors.

Ian Latham, corporate finance partner for Baker Tilly said: “We worked closely with the partners to develop a strategy that facilitated growth in the business whilst respecting the ongoing culture and professional commitment of the staff.

“The partners at Willows will continue to support the business throughout the transition.

“The transaction is right for the partners both in terms of timing and value and, looking forward, there are real opportunities to grow and strengthen the business with the support of Sovereign Capital. “

Peter Renwick, one of the founding partners said: “The support and commitment from Baker Tilly throughout the transaction was great and just what we needed.

“From the outset, their in-depth knowledge of the key drivers in the veterinary sector and quick understanding of the dynamics of our business helped us develop a suitable exit strategy which was right for the business and its staff.

“We firmly believe that, with Sovereign Capital’s investment, Willows will continue to provide its superlative service to pets and their owners while providing additional opportunities for the benefit of our employees and customers alike.

Even though there were some complex elements to the deal, including the dynamics of a PE transaction, we were always fully supported including through the legal process. They were a real pleasure to work with.’

Baker Tilly’s Corporate Finance team included Ian Latham, Helen Brocklebank and David Baggott, who are part of the North West regional Corporate Finance team.