Animalcare Group plc has disposed of its majority shareholding in Identicare to BG Bidco 21 Limited, a newly incorporated company owned by funds managed by Bridgepoint Advisors II Limited, for a cash consideration of 24.9 million pounds. Identicare is a UK-based pet microchipping and pet owner-focused services company. Animalcare Group noted that, upon receipt of the consideration and after fees associated with the transaction, its net cash is expected to be around 27.0 million pounds.
Jenny Winter, CEO said: "Today's decision to crystallise the value from the sale is the logical next step, significantly strengthening our balance sheet and giving us additional financial flexibility and firepower as we concentrate on growing our pharmaceutical-focused animal health business."
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