Vets Central, the veterinary buy & build platform backed by Pemba, is on an ongoing acquisitive growth journey through the consolidation of independent veterinary clinics. With Pemba’s assistance, Vets Central was able to source, invest in and integrate two new clinics into its differentiated veterinary model. The two new clinics to join Vets Central are Tuggerah and Coast & Valley vets.
The Deal
Tuggerah and Coast & Valley vets are some of the Central Coasts most renowned and respected veterinary clinics. Both clinics are located in close proximity to each other which brings a number of operational benefits such as the pooling of staffing. The veterinary team at each clinic are excited at the prospect of joining Vets Centrals differentiated model and the benefits this brings, including veterinary co-ownership, training & education benefits as well as reduced administrative burden through Vets Centrals integrated support team.
About Coast & Valley Vets
Coast and Valleys Veterinary Hospital has been owned and run by head veterinarian Keith Phillips who in 2011, after many years working as a veterinarian on the central coast, decided to open Coast and Valleys Vet in Wyong. The practice is a new, purpose built facility in a rapidly growing metropolitan area. The practice is one of the largest on the central coast, with over 7 vets . Keith and his dedicated team use the latest equipment in a purpose built facility to ensure their customers receive the modern & highest quality care.
About Tuggerah Vets
Tuggerah Veterinary Clinic has been caring for pets, wildlife and (occasionally) livestock on the NSW Central Coast since 1999. The clinic has excellent reviews and is well established in the local community. The clinic is located in a modern, purpose built facility off the intersection of two major roads. The Central Coast, where Tuggerah is located, is in a rapidly growing metropolitan area and Tuggerah is well positioned to capitalise on this future growth. Tuggerah is also in close proximity to Coast & Valley, providing a number of operational synergies.
Background to Pemba’s Investment
Both vet clinic management teams were keen to work with a partner that could help them reach their vision of growth & the benefits of scale that group ownership brings in enabling vets/clinics to focus on what matters – medicine. Pemba & Vets Central stood out as a preferred partner because of Vets Central’s ‘non-corporate’ model, veterinarian co ownership structure, high clinical autonomy and protecting the legacy and branding of all clinics it acquires.
The Future
Pemba will work with Vets Central to grow the group both through organic initiatives & strategy, as well as through carefully selected acquisitions via Pemba’s dedicated Origination team. Vets Central will continue to invest in high quality metropolitan areas & clinics, which provide operational benefits when operated as in clusters. Vets Central will reinvest in its support office capability to ensure its differentiation as the ‘independent’ veterinary group is retained, which will in turn drive Vets Centrals value proposition and the velocity of acquisitive growth.
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Pemba is actively looking to partner with high-quality Health Services businesses. If you are considering external investment and would like to learn more about how Pemba Capital Partners works with its partner companies to achieve significant growth, please email opportunities@pemba.com.au
