Syntaxis Capital supports LuxVet Group’s expansion plans
Syntaxis Capital (“Syntaxis”), a leading provider of growth credit for mid- to lower mid- market companies in Central Europe, has announced the completion of its investment in the LuxVet Group (the “Company” or “LuxVet”), the largest platform of veterinary clinics in Poland, backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cornerstone Investment Management.
Founded in Poland in 2021, the LuxVet Group connects and develops the Polish veterinary industry in a flexible, partnership business model. In cooperation with doctors and owners of leading animal treatment facilities, the Company creates a new quality of services and raises the standards of work in the veterinary sector.
As part of LuxVet’s activities, (i) LuxVet opens their own veterinary facilities, including the largest animal hospitals in Poland; (ii) LuxVet integrates existing veterinary entities, from one-person practices to specialised clinics; (iii) LuxVet supports their further development, with respect for past achievements; (iv) LuxVet listens and exchanges knowledge, relieving the owners of management and administrative activities; and (v) LuxVet raises working standards in the veterinary sector, increasing staff satisfaction.
Syntaxis has invested a senior-secured loan in the Company, all of which will be used to support and accelerate LuxVet’s expansion in Poland and Central Europe. The impressive growth dynamics of the business, as well as its excellent domestic reputation, have recently attracted a number of renowned potential co-investors, which is why Syntaxis and LuxVet believe that the growth credit layer in the business will rapidly grow with every set of clinics joining the Group.
Syntaxis was advised by Dentons, KPMG and TS Partners. LuxVet was advised by Ożóg Tomczykowski and SSW Pragmatic Solutions.
Przemek Szczepanski, a Managing Partner at Syntaxis, commented:
“We are pleased to support the leading consolidator in Poland in its regional expansion plans, a Company backed by highly experienced private equity sponsors, and run by a seasoned and ambitious management team. The transaction follows the well-trodden path of veterinary market consolidation observed across the EU and US, a trend partially spearheaded by Oaktree.”
Aleksander Majewski, the Syntaxis Partner leading the investment, added:
“I am especially excited to have completed this deal, because I am familiar with the sector and thus personally convinced of the success story. Furthermore, it was a pleasure to have negotiated and structured the transaction with such a professional and goal-oriented team as Cornerstone Investment Management and their advisors.”
Piotr Zajączkowski, LuxVet!s CEO, added:
“We are happy to team up with Syntaxis, which arranged custom-tailored financing to support the accelerated expansion of the LuxVet platform. We will continue our successful buy-and-build strategy, solidifying LuxVet’s leading position on the Polish veterinary market.”
Tomasz Jemielity, Vice President at Cornerstone Investment Management added:
“Our goal from the very beginning was to consolidate the market and create a top veterinary platform in the region. Implementing Western standards and reshaping the veterinary sector have been crucial to offer the best possible pet care services. Securing flexible financing tailored for LuxVet needs from Syntaxis, an experienced investor, is another proof that our investment assumptions are correct.”
Karim Khairallah, Managing Director and Co-Portfolio Manager at Oaktree, added:
“LuxVet is raising the bar of quality veterinary services and elevating industry working standards. The investment by Syntaxis will help accelerate the Company’s expansion and broaden access to a higher standard of animal care. With this financing, LuxVet is well positioned to take advantage of the market opportunity and strong fundamentals underlying the veterinary industry.”
Syntaxis Capital (“Syntaxis”), a leading provider of growth credit for mid- to lower mid- market companies in Central Europe, has announced the completion of its investment in the LuxVet Group (the “Company” or “LuxVet”), the largest platform of veterinary clinics in Poland, backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cornerstone Investment Management.
Syntaxis Capital (“Syntaxis”), a leading provider of growth credit for mid- to lower mid- market companies in Central Europe, has announced the completion of its investment in the LuxVet Group (the “Company” or “LuxVet”), the largest platform of veterinary clinics in Poland, backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cornerstone Investment Management.
Founded in Poland in 2021, the LuxVet Group connects and develops the Polish veterinary industry in a flexible, partnership business model. In cooperation with doctors and owners of leading animal treatment facilities, the Company creates a new quality of services and raises the standards of work in the veterinary sector.
As part of LuxVet’s activities, (i) LuxVet opens their own veterinary facilities, including the largest animal hospitals in Poland; (ii) LuxVet integrates existing veterinary entities, from one-person practices to specialised clinics; (iii) LuxVet supports their further development, with respect for past achievements; (iv) LuxVet listens and exchanges knowledge, relieving the owners of management and administrative activities; and (v) LuxVet raises working standards in the veterinary sector, increasing staff satisfaction.
Syntaxis has invested a senior-secured loan in the Company, all of which will be used to support and accelerate LuxVet’s expansion in Poland and Central Europe. The impressive growth dynamics of the business, as well as its excellent domestic reputation, have recently attracted a number of renowned potential co-investors, which is why Syntaxis and LuxVet believe that the growth credit layer in the business will rapidly grow with every set of clinics joining the Group.
Syntaxis was advised by Dentons, KPMG and TS Partners. LuxVet was advised by Ożóg Tomczykowski and SSW Pragmatic Solutions.
Przemek Szczepanski, a Managing Partner at Syntaxis, commented:
“We are pleased to support the leading consolidator in Poland in its regional expansion plans, a Company backed by highly experienced private equity sponsors, and run by a seasoned and ambitious management team. The transaction follows the well-trodden path of veterinary market consolidation observed across the EU and US, a trend partially spearheaded by Oaktree.”
Aleksander Majewski, the Syntaxis Partner leading the investment, added:
“I am especially excited to have completed this deal, because I am familiar with the sector and thus personally convinced of the success story. Furthermore, it was a pleasure to have negotiated and structured the transaction with such a professional and goal-oriented team as Cornerstone Investment Management and their advisors.”
Piotr Zajączkowski, LuxVet!s CEO, added:
“We are happy to team up with Syntaxis, which arranged custom-tailored financing to support the accelerated expansion of the LuxVet platform. We will continue our successful buy-and-build strategy, solidifying LuxVet’s leading position on the Polish veterinary market.”
Tomasz Jemielity, Vice President at Cornerstone Investment Management added:
“Our goal from the very beginning was to consolidate the market and create a top veterinary platform in the region. Implementing Western standards and reshaping the veterinary sector have been crucial to offer the best possible pet care services. Securing flexible financing tailored for LuxVet needs from Syntaxis, an experienced investor, is another proof that our investment assumptions are correct.”
Karim Khairallah, Managing Director and Co-Portfolio Manager at Oaktree, added:
“LuxVet is raising the bar of quality veterinary services and elevating industry working standards. The investment by Syntaxis will help accelerate the Company’s expansion and broaden access to a higher standard of animal care. With this financing, LuxVet is well positioned to take advantage of the market opportunity and strong fundamentals underlying the veterinary industry.”