- LuxVet Group is one of Poland’s largest networks of veterinary care providers, according to INVL
- The INVL Baltic Sea Growth Fund acquired the MiniVet chain in June 2022
- LuxVet Group intends to implement a buy-and-build strategy
INVL Baltic Sea Growth Fund-backed MiniVet announced that it is investing in the LuxVet Group.
LuxVet, headquartered in Warsaw, is one of Poland’s largest networks of veterinary care providers and intends to implement a buy-and-build strategy to consolidate the sector.
Los Angeles-headquartered Oaktree Capital Management and Warsaw-based Cornerstone Investment Management are the largest shareholders of the LuxVet Group.
“We continue to invest in the veterinary sector as we see great potential for growth and expansion there,” said Vidas Venckus, INVL Baltic Sea Growth Fund partner.
“We continue to look for expansion opportunities to create an international, innovative and ethical veterinary platform,” said Piotr Zajączkowski, CEO of the LuxVet Group and partner at Cornerstone. “The support from INVL Baltic Sea Growth Fund is a huge milestone in possible expansion of the LuxVet Group into the Baltics. We are growing dynamically in Poland and have a very promising future ahead of us, both regionally and on a pan-European scale.”
The INVL Baltic Sea Growth Fund acquired the MiniVet chain in June.
Invalda INVL, which manages the INVL Baltic Sea Growth Fund, was formed in 1991 and is an investment management and life insurance group with €1.7 billion of assets under management. INVL Baltic Sea Growth Fund has a total size of €165 million. The fund has looked to assemble a diversified portfolio of companies, targeting majority and significant minority stake deals. It looks to allocate between €10 million to €30 million per ticket.
PE Hub Europe reported on another acquisition by an INVL-backed company in PET Baltija’s acquisition of Tesil Fibres in August.