With this capital injection, UNAVETS will be able to refinance the group’s existing debt and continue with its growth strategy in the Iberian Peninsula, where it already has more than 90 centres in Spain and Portugal. This financing will also allow it to acquire new veterinary hospitals and clinics in these territories, to invest as it has done so far in adjacent businesses with which to create synergies and to continue its commitment to innovation in the veterinary sector.
UNAVETS is now majority owned by funds managed by Oaktree Capital Management L.P.
“We are delighted that Oaktree, and now also Ares, are backing our platform, helping to fuel our growth,” saID Junko Sheehan, CEO and President of UNAVETS. “As we continue to evolve UNAVETS, this funding will give us additional firepower to strategically invest in the entire veterinary sector – i.e. people, facilities, equipment and innovation – to provide the best care for our pets and the continued professional development and future of our veterinarians.”
Thanks to the commitment and support of Ares, UNAVETS is now even better positioned to continue its successful strategy, employing more than 900 veterinary health professionals and support staff in less than three years since its inception. UNAVETS’ management team brings significant experience in both the veterinary sector and from a business perspective. The full headquarters team of around 50 people is focused on supporting all clinical directors and teams in the Group’s clinics.
The UNAVETS Clinical Team is comprised of approximately 900 clinical team members (vets, nurses, receptionists, groomers). They are dedicated to providing best-in-class veterinary healthcare and have a passion for animal healthcare and wellbeing. The UNAVETS Partner Team brings a wealth of experience in Finance, Technology, Human Resources, Marketing, Operations and Professional Development to its partnerships with clinics. It takes on the administrative burdens, allowing veterinarians to spend their time doing what they love to do.
The team advising on the transaction included a team from Cuatrecasas Spain comprising partner Miguel Cruz and lawyers Núria Burillo and Irene Sanz in the Finance area; partner Mariano Ucar and lawyer Flavia Terrés in the Commercial area; and senior associate Javier Calle in the Tax area. Cuatrecasas Portugal was represented by partner Manuel Requicha Ferreira and lawyer Diana Avillez Caldeira from the Commercial area, and partner Gonçalo Bastos Lopes and lawyer João Pedro Russo from the Finance area.
