Friday 14th September 2007
Vets group plans £100m float
Acquisitive veterinary practice CVS intends to float on AIM with an issue valuing the company at £100 million.
Simon Innes, former boss of spectacles retailer Vision Express, is chief executive of CVS, which has been backed since 1999 by private equity group Sovereign Capital. Broker Panmure Gordon is handling the float for the company, which hopes to be a consolidator in a fragmented market in which prices and margins are rising and traditional partnerships are seen as likely to give way to more corporate structures.
Innes, who built up Vision Express into a £220 million-turnover business before its eventual takeover, has been able to steer CVS to acquisitions at four to five times target companies’ earnings before interest, tax, depreciation and amortisation. It could prove an interesting niche player, fairly well insulated from the conventional business cycle.
Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today, and gain immediate access, click here or on the following link:
www.growthcompany.co.uk/offers/GCI/ARTICLEEND07
Comments [0]
User Comments
There are currently no comments on this post.
Related Articles
Related sections
Interesting links
|
