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August Equity funds management buyout of pet imaging firm

August Equity has funded the management buyout of Hallmarq Veterinary Imaging, a global specialist in MRI imaging for horses and companion animals.

The deal, led by partner Garret Turley working with Kate Cook and Kishan Chotai, marks the seventh investment made from the private equity house’s latest fund, August Equity Partners IV. The fund, which was raised in April 2017, is now 55% deployed.

The support of the Hallmarq buyout was made in the context of a growing market for sophisticated diagnostic techniques in veterinary practice. Founded in 2001, Hallmarq has developed the world’s only MRI scanner for the standing horse and PetVet, an MRI system specifically designed for the anatomy of dogs and cats, replacing the use of refurbished human machines.

“We strongly believe that Hallmarq is uniquely placed to satisfy the growing global demand for top-quality animal healthcare diagnostic services and we’re excited to help them achieve their international aims,” said Turley.

Hallmarq chief executive Jos Belgrave added: “Our next steps are to expand our presence in the US market and to focus further on the PetVet system to ensure that vets worldwide have access to the most effective diagnostic technology. We look forward to working together with August Equity to achieve that.”

Posted on: 13/12/2018

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