Priory Lodge Vets sold to Pennard Vets

Deal type: Share Sale
Industry Sector: Veterinary
Completion date: 1st June 2023
Adviser(s): CooperBurnett LLP

Priory Lodge Vets sold to Pennard Vets

CooperBurnett LLP recently advised the vendors in the sale of Priory Lodge Vets, which boasts a dedicated team of 20 employees, who care for more than 4,500 pets. Established more than 70 years ago, the Tonbridge-based veterinary practice was purchased by employee-owned Pennard Vets, which has seven practices across Kent.

The vendors at Priory Lodge Vets – veterinary surgeons, Dr Abby Pye and Dr Dirk Brink – were advised by the Corporate team at CooperBurnett. Partner Victoria Sampson led the deal in the latter stages, alongside Senior Paralegal Carla Loveday and Paralegal Iola Palmer-Stirling. Partner Jonathan Rowe from CooperBurnett’s Commercial Property team dealt with the property aspects emanating from the transaction, including the lease back of the building.

Dirk, who qualified from Onderstepoort in South Africa in 1992, joined Priory Lodge Vets in 1995 and became a partner in 2001. Abby qualified from Cambridge University Vet School in 2003, joined Priory Lodge Vets in 2004 and became a partner in 2017. They will continue to lead the practice.

“We were delighted to support Abby and Dirk in this deal,” says Victoria Sampson, Partner and Head of the Corporate & Commercial team at CooperBurentt. “It will give continuity to the team and customers at Priory Lodge Vets, while allowing customers to enjoy the benefits of being part of a larger group.”

She adds: “Here at CooperBurnett, we have built expertise in veterinary practice M&A over the years and, using that knowledge, the team was there to guide our clients through every aspect of the deal, holding their hands throughout.”

CooperBurnett first stared working with Priory Lodge Vets in 2021, when the team assisted with general legal matters, including a lease and shareholders agreement.

“Then, when we decided to sell the company, they were an obvious choice as we already knew the team and our accountant (Josh Curties from A4G) highly recommended them,” says Dr Abby Pye. “We found CooperBurnett to be friendly, professional and extremely approachable. The whole team worked well together and we always felt well supported. Emails and calls were always answered promptly and we had absolute confidence in all the team throughout the whole process.”