Rotherham veterinary group, The Pet Vet has completed a £13m refinancing deal with HSBC to support its growth strategy, as well as continued investment within its estate of 12 surgeries.
Established in 2011 by chairman and founder Dr Rob Jones MRCVS, The Pet Vet initially grew organically to four large surgeries in the South Yorkshire and Lincolnshire regions. In July 2022 it acquired The Vet from CVS, adding a further eight surgeries and establishing a national presence.
After the acquisition, The Pet Vet focused on restructuring its operating model to optimise efficiencies, creating new career pathways for clinical and non-clinical colleagues, and investing in new equipment for in-house advanced services.
With a refinancing deal now secured with HSBC, facilitated by Castle Square Corporate Finance and with the assistance of Race FD Solutions and Parsons Accountants, this marks the start of a period of growth.
The Pet Vet is looking to secure new surgery sites across the UK and continue investing in its existing estate, developing services to provide customers with greater choice of veterinary care in their local area.
Dr Mel Fuller, CEO, said: “We’re thrilled to have secured funding through HSBC to support our future growth aspirations. As we expand, our tried and tested model will provide the blueprint for establishing successful new surgeries to complement our existing estate.”
