Mubadala Investment Company today announced that it has invested GBP £350m (AED 1.8 b) in IVC Evidensia, Europe’s largest veterinary care provider.

Headquartered in Bristol, UK, IVC Evidensia operates a network of more than 1,500 veterinary clinics and hospitals in 12 countries across Europe caring for over four million pets. Founded in 2011, the company operates a decentralized model that promotes innovation and clinical freedom within its network, supported by a range of integrated services such as procurement, veterinary advisers and clinical boards.

IVC Evidensia is widely recognized for pioneering new standards both for clinical excellence and staff wellbeing within its sector. IVC was originally acquired by EQT Private Equity in December 2016 and in May 2017 it merged with Evidensia, the Swedish veterinary group. Since then, the company has further strengthened its position as Europe’s leading veterinary services provider through strong organic growth and strategic add-on acquisitions.

Justin Sabet-Peyman, Head of Consumer at Mubadala, said, “Our investment in IVC Evidensia aligns well with our focus on investing in market leading consumer businesses in resilient and growing sectors. We are excited to be partnering with EQT, Silver Lake, Nestlé and IVC’s world-class management team to help drive the company’s continued leadership and innovation in pet care.”

Mubadala’s investment in IVC Evidensia joins its growing global portfolio of world-class consumer businesses, including Reliance Retail Ventures Limited, Coupang and Truck Hero. Within the consumer sector, Mubadala focuses on investing in businesses led by strong management teams with leading positions in attractive markets with strong tailwinds.