North Downs Specialist Referrals (NDSR) was a leading multidiscipline veterinary referral hospital, and one of the largest of its kind in the UK and Europe.
The directors of NDSR were looking to take advantage of the centre’s growing international reputation and to sell the practice for a high price. However, the specialist nature of the business meant the pool of potential buyers was limited. The directors were introduced to Avondale’s team through a conference run by Avondale at the Institute of Directors.
Following an initial meeting, they felt Avondale’s unique approach offered the best chance of achieving a successful outcome for the transaction, and the maximum value for the business. Avondale began the process by drawing up a shortlist of relevant acquirers and then making discreet approaches to these businesses on behalf of the directors. This process returned a number of attractive offers for the practice. Negotiations followed between the NDSR-Avondale team and the prospective buyers.
Through the talks, an undisclosed buyer emerged as the best fit for NDSR based on its track record of investing in companies to achieve growth. Heads of Terms were agreed between the two companies. NDSR’s directors were delighted with the outcome and are now in a position to evaluate future projects from a position of financial strength.