March 2020 Alan Kelly – Cannington Vet – Sold to Corporate

I would like to thank Rob for his valuable assistance in selling Cannington Veterinary Hospital. I can’t imagine that we would have had such a good outcome in a relatively short period without his intimate knowledge and experience both as a broker and previous veterinary practice owner.

The sale was desired because after 22 years of ownership in a successful and equal partnership, Trevor and I found ourselves diverging in our interest and contribution. I was approaching the traditional retirement age and wanted to reduce my clinical work, whereas Trevor was still motivated to continue in active practice. Inevitably over time this was creating a stress.

Although we considered selling to either a private or corporate buyer, we had several thoughts in mind including:

• We didn’t want an overly drawn-out sale as it would be a constant distraction from running the practice.
• We preferred a “silent process” that didn’t involve prospective buyers being visible to our clients and staff. That meant not advertising on the open market. This was to avoid exposing our staff to the stress of knowing we were selling without knowing when that might happen or who might be the new owners.
• After many years of hard work and the risks associated with running a successful practice, we wanted a good return on our investment.
• We wanted our legacy to endure, both in the style of practice for our clients, and continuity for our staff. Neither of us were comfortable with the idea of a Greencross, Petstock or Vetwest style of rebranding and corporate culture.

Rob was able to take all this on board and find us the right buyer with minimal fuss, despite it being a difficult market due to Covid. Furthermore, he was able to recommend an excellent lawyer to assist in the legal aspects of the sale negotiation, business conveyancing, and drafting of a suitable lease agreement (the buyers weren’t interested in owning he property).

I would be very happy to recommend Rob to anyone contemplating the sale of their practice.

Kind Regards
Alan Kelly
Partner Cannington Veterinary Hospital