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VETS GROUP About To Float Could Be An Interesting One. (VET)     

goldfinger - 17 Sep 2007 10:27

Very interesting given the recent bills I have picked up for my cat. Talk about pricey to get the pooch or moggy done these days. could be a good investment this over the longer term and a hedge in volatile markets.

Im keeping an eye out for when it goes off.......

From GCI..

Vets group plans 100m float
14/09/2007

Acquisitive veterinary practice CVS intends to float on AIM with an issue valuing the company at 100 million.

Simon Innes, former boss of spectacles retailer Vision Express, is chief executive of CVS, which has been backed since 1999 by private equity group Sovereign Capital. Broker Panmure Gordon is handling the float for the company, which hopes to be a consolidator in a fragmented market in which prices and margins are rising and traditional partnerships are seen as likely to give way to more corporate structures.

Innes, who built up Vision Express into a 220 million-turnover business before its eventual takeover, has been able to steer CVS to acquisitions at four to five times target companies earnings before interest, tax, depreciation and amortisation. It could prove an interesting niche player, fairly well insulated from the conventional business cycle.
dyor.

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