Investment company August Equity has acquired Westpoint Veterinary Group – the farm vets organisation based in West Sussex.
The investment firm already has experience in the veterinary sector, having invested in Independent Vetcare in 2011.
Original Westpoint vet and now newly appointed managing director Matt Dobbs moved to assure clients, colleagues and suppliers that the news means more than just “business as usual”.
He explained: “We now have access to greater resources and expertise to invest in the development of our people, services and products
“Any success we have had is based on our clients’ success; there is no other way and this is our sole focus.”
This ambition is backed by the appointment of new directors with heavyweight business backgrounds, claims Mr Dobbs. Incoming chairman Steve Duncan was formerly chairman of the health and beauty division of Alliance Boots, while newly appointed finance director Paul Hawkes joins Westpoint with experience from a number of senior roles.
According to August Equity investment director David Lonsdale, the aim is to expand Westpoint through a combination of organic growth and acquisitions.
He said: “Livestock production is changing rapidly, driven by strong underlying forces including, of course, increasing global demand for animal protein together with governmental focus on food security and the requirement for efficient livestock productivity with minimal avoidable waste.
“Westpoint is well equipped to help clients benefit from these factors.”
Westpoint currently has 17 practices across the UK, along with associated internet pharmacy farmacy.co.uk.