Acquisition of Michael Gourley Veterinary Surgeons in Manchester - 26 February 2008
For immediate release 26 February 2008
CVS Group plc (“CVS” or “the Group”)
Acquisition of 50th Practice
Acquisition of Michael Gourley Veterinary Surgeons in Manchester.
CVS, one of the UK's leading providers of veterinary services, is pleased to announce the acquisition of Michael Gourley Veterinary Surgeons in Manchester. This transaction marks the 50th acquisition by CVS, bringing the total number of surgeries within the group to 140.
The practice acquired was formed in 1954 and employs nine vets across its principal site in Ashton and five branches in the local area.
In the year ended 30 April 2007 the practice achieved EBITDA of approximately £150,000 on turnover of £1.533m and had gross assets of £665,000.
Commenting on the acquisition, CVS Chief Executive Simon Innes said: "We are delighted to welcome Michael Gourley and his team to CVS. Their reputation for excellence in clinical care makes them an ideal partner for our existing practitioners".
This information is provided by RNS - The company news service from the London Stock Exchange.
CVS Group plc: 01379 644 288
Simon Innes - Chief Executive
Paul Coxon - Finance Director
Buchanan Communications: 0207 466 5000