Latest / The Buyout Show with Fexingo: Private Equity, Roll-Ups, and Business Acquisitions
How Private Equity Is Buying Up Veterinary Clinics
Lucas and Luna examine the wave of private equity acquisitions of small animal veterinary practices, focusing on consolidation metrics from 2021-2026. They discuss the roll-up of general practice clinics, how aggregators like PetVet Care Centers and VCA operate, the impact on vet salaries and patient pricing, and the tension between clinical autonomy and corporate efficiency. The episode uses the acquisition of a 10-doctor practice in Charlotte, North Carolina as a concrete case, walking through valuation multiples, earn-out structures, and the role of debt financing in these deals…
The skinny
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