Vet’s Klinic fetches £4 million funding round from Mobeus to roll out veterinary services
Vet’s Klinic, the state-of-the-art veterinary practice, has secured a £4 million growth capital investment from Mobeus.
From its pioneering practice in Swindon, Vet’s Klinic offers high quality pet care at flexible prices. Its distinctive customer experience combines: a glass-fronted treatment area; an industry-leading booking system; real-time video and photo updates to pets’ medical records; and a large-scale team of veterinary experts. As a result, since opening in 2012, it has become a “Super Klinic”; the largest single site, first opinion practice in Swindon.
The business is seeing strong, growing demand for its services, as pet ownership in the UK increased during the pandemic, with 3.2 million households adopting a pet since March 2020*. The rise of pet parenting, where the pet is treated like one of the family, a recognition of the mental health benefits and an enduring shift to more flexible working patterns suggest this trend will continue.
To meet demand, Vet’s Klinic will use the funding to roll out a further four “Super Klinics” along the M4 corridor, creating a regional group of practices to deliver the same standout pet and client care.
The investment was led for Mobeus by Investment Manager Rowan Grobler, who worked with partner Trevor Hope on the deal. Simon Bursell, Mobeus Portfolio Director, will join the board. The core of the management team, led by MD Laura Shears, FD Juliet Silvester and Director of Veterinary services Adrian Caunter, has a good blend of clinical skill and commercial acumen. Richard Penston, a proven Non-Executive Chairman who is well known to Mobeus, provides strategic guidance, operational experience and stability.
Rowan Grobler, Mobeus Investment Manager, added, “More families have pets – and those pets are more like one of the family – than ever before, driving demand for trusted, high quality veterinary care. With its market-differentiated service delivered through technology, high proportion of well-paid nurses and low staff turnover rates, Vet’s Klinic is well positioned to respond to demand, specifically in regional towns and cities with a small number of vets.”
Mobeus was advised by Mansfield Advisors (commercial), Boyes Turner (legal), PKF Francis Clark (financial), Stratton HR (Management). The company was advised by Osborne Clark (Legal) and James Cowper Kreston Corporate Finance.
* According to the Pet Food Manufacturers’ Association annual pet population data.
30 June 2021
“With Mobeus’s partnership, we are really excited to bring our expert veterinary services, cutting edge technology and transparent approach to a much wider group of pets and their owners.”
Laura Shears, Vet’s Klinic MD