British vet giant could be put on the block; may fetch as much as £350 million - part 2
This deal announcement in the Vet Times (see below) seemed to slip under the radar somewhat but I'm noting it as little old Betaville was the first to break the story a few weeks ago about Independent Vetcare being put up for sale.
The story in the Vet Times doesn't contain a price. However, bankers tell me IVC was sold for around 16 times earnings before interest, depreciation and amortisation (EBITDA).
Given it was previously suggested the company made around £30 million in EBITDA that would mean the Nordic investor EQT paid between £480 million and £500 million for the vetinary giant...