Lancashire vets under new ownership as entrepreneurial duo complete buyout

North West veterinary practice Bay Vets Ltd has undergone a management buyout.

The company, which has sites in Lancaster, Morecambe, Milnthorpe and Caton, is now owned by Colin Houston and Katie Kyle.

The duo acquired the business from its three existing shareholders with support from NatWest.

Bay Vets Ltd was founded in 2000 with the merger of two existing practices. Today, the Lancaster-headquartered company provides veterinarian care to over 13k pets across Lancashire and South Cumbria.

Colin and Katie believe the deal will provide the business with long-term stability.

Katie said: “This is a hugely exciting time to be a part of Bay Vets.

“It’s a new chapter for the organisation and myself and Colin Houston can’t wait to get started.”

She added: “We are both very happy that the MBO has gone through smoothly and wish to thank NatWest for their guidance and support.”

NatWest backed the business with two separate loans; a goodwill loan, spanning seven years, and a 20-year property loan.

NatWest healthcare relationship director Gary Swift commented: “Bay Vets provides a brilliant service to the local communities in which it operates, so it’s fantastic to be able to support the new management team and the next stage of their growth plans.

“We look forward to working in partnership with the business as it expands.”