Nash, Sells seeks healthy return

Nash, Sells and Partners has led and structured the GBP6.5 million start-up of CVS (UK). It has invested GBP1 million for a 62 per cent stake and committed another GBP3 million to be drawn down over the next four years.

CVS (UK) is a new vehicle set up to participate in the consolidation of the veterinary industry through the incorporation of veterinary practices and services. Nash Sells is pinning its faith on two well known individuals in the veterinary practice industry: Bruce Robinson, managing director, and Brian Pound, corporate development director. Robinson was formerly managing director of Fort Dodge Animal Health while Pound was managing director of Solvay Veterinary. Finance director Philip Theo was previously chief financial officer of Fort Dodge Animal Health.

The strategy of the group is to buy and build a selected number of veterinary practices and through professional management and improvements in efficiency, establish a chain that provides a high level of service to the clients and animals under their care. The first practice already acquired is Barton Veterinary Hospital in Canterbury, Kent.

Nash Sells Limited Partnership II has now invested and committed a total of GBP28.1 million, representing 54 per cent of its committed capital.