Shawbrook provide funding support for Perwyn portfolio veterinary buy-and-build platform

• Kin is a mid-market small animal veterinary practice group, headquartered in Bury St. Edmunds and operating across 22 sites in the East and Southeast.
• Kin was looking to accelerate its successful buy-and-build strategy in the UK and expand its high-quality veterinary service capability.
• Buy-and-build specialist, Perwyn, invested in Kin in 2023 and following a successful period of organic and acquisitive growth, Shawbrook have provided unitranche and acquisition facilities to continue the growth journey.

Shawbrook has structured a bespoke facility to support existing sponsor client, Perwyn and veterinary group, Kin with their latest transaction to support a further two acquisitions, which were completed simultaneously, as well as funding for further acquisitions. 

Kin represents a unique challenger platform to consolidate veterinary practice groups in the Southeast, providing best in class first opinion veterinary care for small animals. Perwyn have supported four acquisitions since acquiring the platform, with the group now delivering vet-led care across 8 veterinary groups comprising 22 sites, all under the Kin Vet Community brand. 

Perwyn will continue to support the business to deliver robust organic and acquisitive growth within the UK, supported by acquisition facilities provided by Shawbrook to facilitate acceleration of the highly successful M&A strategy. 

Gurinder Sunner, Partner at Perwyn, said:     

“We are delighted to continue to support Kin at a hugely exciting period for the business. We have worked with Shawbrook on multiple transactions and appreciate the flexible, pragmatic and agile approach so bringing Deepak and the team on board for this latest transaction was a logical move. Shawbrook understand our buy-and-build strategy and the team swiftly understood the strategic ambitions for Kin making the funding process fast and effortless.”

Ciara McCormack, CEO at Kin Vet Community, said:

“We at Kin Vet Community are thrilled to have Perwyn’s continued support to deliver and accelerate our growth. Their ongoing commitment will allow us to elevate the standard of pet care throughout the UK, reflecting the evolving relationship between pets and their human companions.” 

“We are delighted with the support Shawbrook are providing to facilitate achieving our ambitious growth plans over the coming years. Their financial sponsors team were able to quickly understand our sector dynamics and create a bespoke solution which will enable us to deliver our strategic initiatives.” 

Deepak Parekh, Senior Director at Shawbrook, commented:

“We have worked with Perwyn on multiple deals over the years and each business has been unique, entrepreneurial and dynamic. Kin represents a well-managed buy-and-build platform backed by a highly credible management team and experienced Sponsor, and we are delighted to be working with the business as we support their continued growth and expansion.” 

Shawbrook was supported by Eversheds Sutherland for legal services. Kin and Perwyn were supported by Clearwater, Hazelwoods and Gowlings.