Portfolio
Vétoquinol
| Sector | Industrials |
|---|---|
| Investment type | Growth Capital |
| Region | France |
| Status | Former investment |
Nature of Business
Vétoquinol is the 10th largest veterinary pharmaceutical company in the world and the 3rd largest dedicated to animal health. Vétoquinol is first and foremost an independent, family-owned business and has always enjoyed a close relationship with its vet clients.
Vétoquinol’s growth and development strategy focuses on innovation and by finding the right balance between two major markets: companion animals and livestock, bred for human food.
Historically based in France, Vétoquinol currently develops, produces and distributes a wide range of more than 700 medical and non-medical products in Europe, North America and Asia-Pacific. With a presence in 23 countries through its subsidiaries, its strong network of 140 distributor partners provides visibility for its products in more than 100 countries.
Investment Overview
3i invested for a minority stake in family-owned Vétoquinol in February 2003, having identified the company as a clear leader in a fast-growing, international market.
Our Healthcare track record, in France and internationally, allowed us to advise on international business development strategy and during our investment period, Vétoquinol continued to expand. In 2004 the company opened a sales office in Shanghai and made the strategic decision to discontinue its Biological Research and focus on developing curative products, followed up by the launch in 2005 of a palatable antibiotic for cats and dogs.
In 2006, Vétoquinol acquired Vet Solutions, an independent veterinary company located in Fort Werth, Texas and expanded its Asian presence with the acquisition of South Korean distributor, Semyung Vet. We also introduced Vétoquinol’s management to contacts in the animal healthcare market, leading to a distribution deal with Spain’s Labiana Group.
In late 2006 we exited Vétoquinol, having advised them on a successful IPO on Euronext.
