By bringing together more than 70 veterinary clinics in just 4 years, the Qovetia network has quickly distinguished itself by advocating for a unique model that integrates all specialties of the sector (companion animals, equine medicine, and rural medicine) and involves veterinarians in its governance.
Founded in 2020 by the grouping of around ten sites in Normandy, Burgandy Franche-Comté, and Occitanie, with the financial support of Careventures and Unexo, Qovetia has since been joined by around sixty sites covering the majority of French territory and become one of the main players in the veterinary clinics sector.
Qovetia stands out with a unique and “veterinarian-centric” value proposition, which promotes the quality of care and the performance of clinics. This unique model in the animal health sector allows for alignment of interests and a lasting alliance with veterinarians. Qovetia involves associate veterinarians in the group’s decision-making process and guarantees true medical autonomy to provide individualized care services at each clinic, closest to the patients.
Qovetia and its management were advised, in the context of their negotiations with lenders as well as in the development of a financial structure adapted to the Group’s ambitious external growth policy, by Degroof Petercam Investment Banking.
With a new financing of €130 million in the form of senior and junior bonds allows the Group to (i) improve its financial structure by refinancing a portion of its bank debts, (ii) finance an ambitious plan of around sixty acquisitions over the next 2 years, and (iii) finance development projects.
Jean-Matthieu Cottin, CEO of Qovetia: “I thank Five Arrows Debt Partners for their trust, as well as all the teams who made this operation possible. I am very happy about this important milestone for Qovetia. In a competitive and complex environment, in a sector undergoing profound evolution and facing major societal challenges, this new partnership will allow us to continue our development with the associated veterinarians in service of caregivers, their patients, and their owners.”
Eric Souêtre, Partner at Careventures: “As Co-founder and principal investor, Careventures is delighted to partner with Five Arrows to develop the Qovetia model both in France and Europe. Their support represents a validation of our commitment to the company, its management team, and its positioning.”
Raoul Mahler, Managing Director of Five Arrows Debt Partners: “We were very impressed by Qovetia’s business project, focused on supporting and empowering veterinarians, as well as by the quality of its management team. Qovetia is pursuing an ambitious yet controlled external growth strategy, which has strengthened our investment decision.”
