Mubadala Investment Fund announced that it has placed 1.8 billion dirhams in the largest European veterinary care company to invest in it.
Mubadala, which is the sovereign fund in Abu Dhabi, said it is investing in British-based IVC Evidensia which provides veterinary care in Europe.
IVC Evidensia operates a network of more than 1,500 veterinary clinics and hospitals in 12 European countries, providing care for more than four million pets.
Mubadala Investment Fund
Established in 2011, the company operates a decentralized model, supported by a suite of integrated services such as procurement, veterinary consultants and management.
It is also reported that private equity firm EQT acquired IVC Evidensia in late 2016, and merged it into Sweden’s Evidence in May 2017.
IVC Evidensia is also recognized as a leader in setting new standards for clinical excellence and safety for veterinary care teams.
EQT Private Equity acquired IVC in December 2016, then merged in May 2017 with Evidensia, a Swedish group specialized in providing veterinary services.
The company has since consolidated its position as one of the leading providers of veterinary care services in Europe, through business growth and further strategic acquisitions.
Focus on institutions
Meanwhile, Justin Sabet Peyman, Head of Consumer Unit at Mubadala, said: “Our investment in EVC aligns with our focus on investing in institutions operating in the consumer sector and sectors that are characterized by resilience and continued growth”.
Mubadala’s investment in EVC Evidence is also a new addition to its growing investments in the consumer sector, through global companies such as Reliance Retail Ventures Limited, Kupang and Turk Hero.
In a related context, the Abu Dhabi government borrowed again from international markets through its sovereign fund Mubadala, within less than three months of collecting $1.1 billion from the debt markets.
Meanwhile, a document revealed that the Abu Dhabi government’s Mubadala Fund, last Thursday, began marketing bonds denominated in US dollars in two tranches.