Q2 2024 Veterinary Services Update

Q2 2024 Veterinary Services Update

Veterinary Services market activity throughout the first half of 2024 largely continued at a similar pace as the latter stages of 2023. M&A activity has been largely limited to smaller add-on acquisitions and follow-on investments vs. nine-figure PE exits and new platform deals. The lack of activity at the high-end of the market remains largely attributable to the challenging, although stabilizing, interest rate environment coupled with anticipated scrutiny of larger consolidations as seen in the FTC’s ruling following the attempted JAB / NVA merger in 2022.

That said, Provident expects to see a modest pickup in M&A volume in Q3 / Q4 2024. Sellers have begun to recalibrate valuation expectations to mid-teens multiples for premium, platform-caliber assets and slightly lower multiples for sizeable add-ons. This should spur consolidation activity across the sector as the macro growth tailwinds in the space remain strong and position the market for continued expansion.

To print and download the full Veterinary Services Update report, please click below…

[holo_button icon=”/wp-content/uploads/2024/07/Q2-2024-Veterinary-vF.pdf”” color=”#003561″ target=”blank”]PRINT/DOWNLOAD[/holo_button]