For independent practice owners · UK · Germany · France · Italy

A good exit shouldn't cost you what made your practice worth building.

Vet Wealth Global buys independent veterinary practices across Europe — at a fair, fully evidenced price — and keeps them run the way you built them: clinical standards intact, your team looked after and animal welfare back at the centre of the job, not a line negotiated away after completion.

Owned and run by vets, lawyers and M&A specialists who've sat on both sides of the negotiating table — and who now sit on yours.
The Dilemma

You built something worth having. That's exactly the problem.

You didn't build this practice to flip it. You built it because you're good at the job, because your team trust you and because clients drive an extra twenty minutes for the vet who explains things properly instead of the one who's fastest through a consult.

Now you're thinking about what comes next — retirement, a new chapter, or simply relief from the workload — and the offers on the table come from groups who talk in multiples, not medicine. You've heard the stories: standards slipping after acquisition, good nurses leaving within the year, targets replacing clinical judgement. You don't want your name attached to that.

It isn't hypothetical, either. We hear it constantly from vets who've left corporate practice — burnt out by targets, thin rotas and a working environment nobody designed for people to actually stay in. The associates and nurses you'd want on your own team are, more often than not, the ones already looking for the door marked "independent."

But you've also put twenty years and a second mortgage into this business and there's nothing unprofessional about wanting a fair return for it. Wanting a good price and wanting to do right by your patients aren't opposing positions — they never were. That's exactly why we buy practices ourselves, rather than simply advise on a sale to whoever's writing the biggest cheque: so the price you're offered and the promises you're made come with the same signature.

“
What do you want your staff to inherit?
The question worth sitting with before any exit conversation — because when we buy your practice, your team doesn't inherit a stranger. They inherit continuity.
Why It Pays To Do It Properly

The numbers are now on the record.

Buyers don't pay their best prices for buildings and client lists. They pay for earnings that last — retention, clinical reputation, a team that stays after the founder leaves. The UK regulator's investigation has now published the first real data on how independent practices perform, and the spread is wide: the best-run practices earn margins most of their peers never reach. It's exactly why we structure our own offers around the team and the standard of care, not just the P&L on the day of completion.

28%
Top sixth of UK independents
Average EBIT margin of the best-run sixth of independent practices in the CMA's sample, 2021–23. The bottom sixth averaged 0%.
CMA, Appendix C, October 2025
11%
Down from 15% in 2021 to 9% in 2023
Weighted-average EBIT margin across the CMA's sample of 36 UK independents; two in three saw margins fall.
CMA, Appendix C, October 2025
19.9%
A listed UK buyer's benchmark
Adjusted EBITDA margin of CVS Group, one of the six large UK groups, for the year to June 2026.
CVS Group plc, FY2026 results
6×
What a listed buyer says it pays
EBITDA multiple CVS Group says it typically pays for practices in Australia. It says UK multiples run slightly higher.
CVS Group results call, September 2026
EBIT Margin, UK Independents 2021–23 — Where Your Practice Sits
0%
Bottom sixth
11%
Average
28%
Top sixth

Retention, culture and clinical standard aren't a "nice to have" on a valuation report. They're what a careful buyer is really paying for.

Across Europe

Wherever you practice, the clock is running at a different speed.

Consolidation doesn't arrive in every market at once. The UK is furthest along: six large groups now own over 60% of practices, up from 10% in 2013. Germany, France and Italy are earlier in the same cycle, which means owners there still hold more leverage — and more time to choose a buyer who'll actually keep faith with what they've built.

United Kingdom
UK
Practices owned by large groups60%+
In 201310%
Six groups now own the majority of practices; the CMA's remedies come into force over the next year.
Germany
DE
Practices in corporate groups≈5%
Veterinary practices≈10,000
Most practices are still vet-owned, and fees follow the statutory GOT scale.
France
FR
Vets working for corporates23.5%
…of which the five largest groups17.8%
Mid-consolidation; most vets still work outside corporate groups.
Italy
IT
Veterinary services market, 2025€1.5bn
Clinics fund-owned by 2033 (forecast)≈25%
Consolidation began in 2018. FNOVI's benchmark: an EBITDA margin above 15% is above average; 10–15% is typical.

Sources: UK — Competition and Markets Authority, veterinary services market investigation, final report (24 March 2026) and Appendix C, financial and profitability analysis (October 2025); CVS Group plc FY2026 results (September 2026). Germany — German Association of Veterinary Practitioners (bpt), and France — figures reported to the Federation of Veterinarians of Europe General Assembly (November 2025). Italy — FNOVI, the national federation of Italian veterinary orders (December 2025), citing VMS and J.P. Morgan for the 2033 forecast. EBIT margins are the CMA's; EBITDA figures are as published by CVS Group and FNOVI. No regulator or official body publishes EBITDA multiples for practice sales; the only multiple on this page is one a listed buyer has stated publicly. What a practice is worth depends on the practice, the buyer and the terms. Not financial or investment advice.

How We Work

How we buy — and what changes, and doesn't, afterwards.

Most buyers value what's easy to measure: revenue, EBITDA, footfall. We price practices — and run them afterwards — around what actually protects their worth and their standards, once you've left the room.

01
Fair-Value Benchmarking
We benchmark your practice against real sector data on revenue, margin, retention and clinical quality, so the price we offer is evidenced — not a lowball opening bid.
02
An Open-Book Offer
You see exactly how we've arrived at your valuation, using the same live market data we hold ourselves to across the practices we already own. No black box.
03
Standards, Written Into the Sale
Clinical standard, team retention and animal welfare commitments go into the sale agreement itself — not left to goodwill after completion.
04
Ongoing Stewardship
Once we own it, your practice keeps its name, its people and its way of working — with our clinical, legal and finance team supporting from inside the business, not extracting from a distance.
A Note From Our Clinical Director

I spent twenty-five years in practice before I ever thought about what happens to one after it's sold. I know what it's like to sit in the staff room at seven in the evening doing paperwork nobody sees and I know what it feels like to watch a practice you've poured yourself into get reduced to a line in a spreadsheet.

I'm not going to tell you that wanting a good price is somehow unbecoming of the profession. You've earned it — through risk, through debt, through years of being the person everyone calls when something goes wrong out of hours. Nobody hands that back for free and nobody should ask you to.

What I will say is this: the practices that hold their value best and hold onto what made them worth building in the first place, are the ones where the new owner treats clinical standard as seriously as the balance sheet. That's how we run every practice we buy — because animal welfare and good business were never actually in competition.

That's the deal we want to make with you: a fair price today and a practice that still looks like yours on the day after completion and every day after that.

KH
Dr Kay Hamblin, BVSc MRCVS
Director, Clinical Operations & Client Insight — Vet Wealth Global

And for the people already doing the work when we buy: retention comes before any sales target — and it shows in what we actually offer them.

Monthly 1:2:1s
Regular, unhurried time with an experienced vet who understands the job and has a budget to actually help — not a tick-box appraisal.
Clinical freedom
Decisions made on clinical judgement, for the animal in front of you — not against a target sheet.
CPD & certificate funding
Further qualifications and career planning funded properly, not squeezed from a training budget nobody can access.
Flexible working & career breaks
Rotas and part-time routes built around real life, with a genuine, supported route back in after time away.
Family & childcare support
On-site crèche where practicable and a childcare allowance where it isn't — so parenting and practising aren't a trade-off.
Health, wellbeing & finance
Private healthcare, gym and PT membership and independent financial advice on your own terms — because looking after burnout starts long before you're burnt out.
Registered interest to date
20
Vets have already put their name to a future Vet Wealth Global practice.
The Platform

See exactly how we'd value your practice.

Every practice we assess gets a live benchmarking and valuation dashboard — not a one-off report that's out of date within a quarter. Explore a sample below.

Sample Practice vs. Sector
A single-site small-animal practice, illustrative — shown against the UK sector median and top quartile.
Illustrative sample
Revenue£1.32m
EBITDA margin21%
Client retention88%
Team score71/100
Sample practice Sector median & top-quartile markers
Exit-Readiness Score
Financial health, team performance and clinical standard, weighted into a single score with a clear plan to close the gaps.
Illustrative sample
78
/ 100
Financial health82/100
Team performance71/100
Clinical standard79/100
UK Veterinary Margins, 2012–2026
A listed UK group's margin over 15 years, with the published figures for independent practices.
Sourced data
IFRS 16 14.4% 12.9% 16.6% 19.9% 15% 9% 11.9% 10.6% 2012 2014 2016 2018 2020 2022 2024 2026
CVS Group — adjusted EBITDA margin (listed UK group)
Independents — EBIT margin, CMA sample of 36 practices
Independents — SPVS surveys: 2016 net profit after owners' pay; 2023 EBITDA after owners' market-rate pay and rent
IFRS 16 — 2020 accounting change that raises reported EBITDA
Sources: CVS Group plc annual results FY2012–FY2026 (adjusted EBITDA ÷ revenue; from FY2020 under IFRS 16, which raises EBITDA — FY2020 was 12.9% before and 16.6% after); CMA, Appendix C (October 2025); SPVS–Hazlewoods Profitability Survey (February 2023); SPVS Profitability Survey with Veterinary Insights (September 2016). EBIT, EBITDA, net profit and survey definitions differ, so compare the lines with care.
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A veterinarian happily holding a small dog in a clinic
Good medicine, good business
The practices that keep their standards after the sale are the ones whose new owner never intended to change them.
Who's Behind This

Legal rigour and clinical credibility, in the same room.

James Cronin
James Cronin (General Counsel)
Founder & CEO — Acquisitions & Legal
BSc · PGDL · LLM (Leic) · LLM Kings London (Current)
Personal lawyer to the world's veterinarians. Founder of Eight Legal and Vet Wealth Global, advising veterinary practice owners on legal strategy, joint venture partnerships, M&A and successful exits for 28 years — now leading the deals through which Vet Wealth Global buys and protects independent practices. Guest lecturer at the University of Cambridge Judge Business School, Royal Holloway, University of London and the University of Nice Sophia Antipolis, and a regular speaker at the London Vet Show, specialising in M&A, due diligence and directors' legal duties.
Dr Kay Hamblin
Dr Kay Hamblin (Chief Medical Officer)
Director, Clinical Operations & Client Insight
BVSc · MRCVS · MSc Business Psychology
Veterinary surgeon with over 25 years of continuous, hands-on clinical experience — her status as a practising MRCVS creates immediate trust with clients and teams alike. Designed the clinical and welfare standards that every practice we acquire is run to, long after completion, and built the platform's team-scoring methodology by integrating business psychology with practical, on-the-ground workflow design to build genuinely high-performing veterinary teams.
Kim Whallen Blake
Kim Whallen Blake
Legal Director — Litigation & Risk
LLM · Solicitor · Litigation & Advocacy Specialist
Manages regulatory risk and disputes across the group, so the welfare and standards commitments we make at acquisition hold up under pressure, not just on paper. Works through every sale agreement with the seller's own advisers, making sure the protections promised to the practice, its team and its clients are drafted clearly and can genuinely be enforced if they are ever tested.
Adam Mehenni
Adam Mehenni
Finance & Strategy Director
BA · MBA · Finalist, Chartered Institute of Accountants
Builds the financial systems and reporting that fund fair acquisition prices and stand behind them, across multiple currencies and markets. Leads the financial side of each acquisition, from the evidence behind the valuation to how and when the seller is paid, so owners can see exactly how their price was reached and trust that it will be honoured.
Richard Hewitt
Richard Hewitt
Veterinary Director — Independent Practice
BVSc · CertVA · MRCVS · RCVS Advanced Practitioner in Veterinary Anaesthesia
Owner and principal vet of Hollybank Veterinary Hospital in Cheshire, which he founded in 2009 and has grown into a two-site, ten-vet independent group with RCVS Small Animal Hospital status. Brings the owner's-eye view to every acquisition: he knows what independents have built, and what they need protected.
In Confidence

Three conversations. No pressure. Nothing shared without your say-so.

01
A confidential call
No forms, nothing shared with third parties. Just a conversation about your practice, your team and what a good outcome looks like to you.
02
A fair-value review
We show you exactly how we'd price your practice against real sector data — the same numbers, the same method, every time.
03
An offer, on your terms
If it's a fit, we make a written offer with clinical standard, team retention and animal welfare commitments built into the sale — not a verbal promise made to close the deal.
Every conversation is confidential and without obligation. If our offer isn't right for you, you walk away owing nothing — no fee, no commitment, no pressure.

Your practice took years to build. It deserves an owner who won't undo that.

Book a confidential conversation
Acquiring independent practices across the UK, Germany, France and Italy — and expanding across Europe.

Vet Wealth Global · Eight Legal, Cheltenham · james@vetwealthglobal.com · 01242 570161