The private equity backer of one of Britain’s biggest veterinary care groups has hired two banks to prepare a £3bn auction of the company.
Sky News understands that BC Partners, the buyout firm, has hired JP Morgan and Jefferies to oversee a sale of VetPartners later this year.
A deal will see one of the industry’s biggest operators changing hands.
According to the company’s website, VetPartners employs roughly 7,500 people in the UK at 500 sites, including its York headquarters.
In 2019, it expanded beyond Britain with the addition of practices in Italy, and now also has a presence in France, Germany, Ireland, Portugal and Spain.
The company was established in 2015 by its founder, Jo Malone, and could now be worth in excess of £3bn, according to bankers.
A number of large buyout firms have begun to prepare bids for the company, with those already having investments in the sector including CVC Capital Partners, which has a stake in Medivet, a rival operator.
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BC Partners bought VetPartners in 2018 in a deal worth about £720m.
Other big players in the sector include IVC Evidensia, which also has private equity backing.
BC Partners declined to comment.
