Nordic Capital, a Scandinavian buyout firm, has agreed to buy a stake in AniCura, a Nordic operator of pet hospitals and veterinary clinics.
Financial details of the transaction were undisclosed, and is pending regulatory approval. Nordic declined to comment beyond the statement.
AniCura is currently owned by a large number of staff, the Foundation Djursjukhus i Stor-Stockholm, and the Swedish investment firm Fidelio Capital. All parties will remain significant co-owners together with Nordic.
AniCura, which was established in 2011, operates pet hospitals and veterinary clinics in the Nordic region. The business provides veterinary care in 60 locations and caters to half a million animals annually.
Nordic aims to professionalise and expand the business, it said in the statement. It also plans to establish a new veterinary specialist neurological centre at AniCura Albano Animal Hospital in Danderyd, Sweden.
Nordic made the investment using capital from its Fund VIII, a €3.5 billion vehicle which closed last year. This is the fourth deal Nordic made with this fund.
Last week, Nordic invested in Gina Tricot, a Swedish fast fashion retail chain. In May, the firm agreed to buy Euroline, a payment business that provides secure card solutions, from SEB, a Nordic corporate bank, for SEK 2.2 billion (€240 million, $330 million).
Last April, Nordic bought Unifeeder, a Danish logistics company, from London-headquartered Montagu Private Equity for approximately €400 million.