We are excited about life under CVS’ ownership.  Whilst we are familiar with acquiring smaller veterinary practices, the B&W shareholders had not experienced a sale process before.  As such, it was imperative that we had an experienced corporate finance adviser to guide us through the process and Momentum’s advice and expertise was invaluable.
From day one they helped us articulate the strategic value of our business, and their advice throughout the process helped ensure that an excellent outcome for the shareholders and the business was achieved.  We would highly recommend them to other shareholders considering a sale of their business.
Ian Camm, Managing Director of B&W
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Momentum Corporate Finance announces the successful completion of its most recent transaction, advising the shareholders of B&W Equine Veterinary Group (“B&W”) on its sale to CVS Group PLC (“CVS”).

B&W is one of the UK’s leading independent equine veterinary groups. Established in 2009, through the merger of established equine practices Bushy Equine Vets and The Willesley Equine Clinic, the business operates an integrated practice based around a state-of-the-art multi-disciplinary referral hospital located in Breadstone, Gloucestershire.  In addition B&W has three other practices, based in Cardiff, Gloucestershire and Bristol.  B&W employs a highly experienced team of over 100 staff in total, including 34 professional vets and seven diploma holders.

B&W is the largest specialist equine veterinary group in the South West of the UK. It offers a comprehensive range of services including two theatres within the hospital (orthopaedic and colic) and the most complete equine imaging service in the UK.

It is accredited with the highest practice standard by the Royal College of Veterinary Surgeons.

The acquisition provides CVS, the UK’s leading provider of integrated veterinary services, with a leading presence in the UK equine market and as such represents a strategically important transaction for CVS. CVS will continue to develop and grow the B&W business to optimise its potential. The equine division of CVS has grown rapidly and substantially over the last 18 months and now stands at 32 sites providing equine veterinary work in the UK. 

The business reported revenues of £6.0 million for the 12 months to 28 February 2017.

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We are delighted to have advised the shareholders of B&W on the sale to CVS.  The compelling strategic fit between the businesses means that CVS is the right buyer to help B&W continue its recent growth and we believe that it will be a supportive owner in the years to come.  

Following on from the sale of Highcroft Veterinary Group, this is the second leading independent veterinary group sale on which we have successfully advised.  With high sales multiples being seen, and significant opportunity for further consolidation in the sector, this is an excellent time for veterinary group owners to consider realising their value.
Rob Crews, partner at Momentum Corporate Finance
The team at B&W bring enormous expertise to the CVS Equine group, and we are thrilled to have them join us, particularly as we are growing so rapidly in our equine division. CVS looks forward to working with the B&W team to continue to deliver high levels of expertise and service as we deliver the next phase of growth together.
Simon Innes, Chief Executive of CVS