2021 deal hits Business Weekly's 'Deal of the Year' list.
Ashcroft LLP completed the sale of Goddard Veterinary Group, the largest family-owned veterinary business in the UK, to the private equity backed VetPartners Group. This is the second significant deal in the veterinary sector completed by Ashcroft this year, following the sale of Newmarket based Rossdales LLP in February.
Ashcroft Corporate Finance Partner Tom Gallop says: ‘It’s been a pleasure working with Goddards and we are extremely proud to have negotiated the terms of the deal and secured an outstanding result for the shareholders and the company.”
Goddard Veterinary Group has its headquarters in Woodford Green, Essex. It was established in 1952 by Arthur Goddard, and since then, under the leadership of his son Philip, has expanded to 47 sites including three RCVS Tier 3 hospitals. It reported turnover in excess of £30m in its last filed accounts.
Philip Goddard said: “It has been my privilege to have been at the helm of Goddard Veterinary Group for the past 30 years, but Goddard Veterinary Group is not about me.
“I took over the stewardship from my father, who many may remember. As a custodian, I have tried to maintain his ethos and values. However, with the consolidation of the market, and due to recent health considerations, we as a group decided that we needed to join forces with another group, ideally with an inspirational leader who shares the same aims and vision of Goddard Veterinary Group.
“The view of the management team was totally unanimous that the best candidate, who we felt would support our principles, our staff and our clients, and provide the necessary reinvestment in the business, as well as look after our patients in the way we have done for decades, is Jo Malone at VetPartners”.
VetPartners was founded by CEO Jo Malone in 2015 and has 160 of the UK’s most respected and trusted small animal, mixed, farm and equine practices, employing more than 6,000 people across nearly 550 sites in the UK and from its headquarters in York.
VetPartners CEO Jo Malone said: “We are delighted to welcome Goddard Veterinary Group to our family of practice because we share many of the same values. Like the Goddard’s team, we believe that people are our greatest asset and we are dedicated to providing the best possible care of pets and an excellent service for clients.”
