Clearwater has advised Fovéa, a French veterinary clinics group, on its fundraising through a sponsorless transaction, led by EMZ Partners.
Founded by Pierre Colasson and Olivier Reineau in 2021, Fovéa has around 40 veterinary clinics in France. The group offers a medical project of excellence with a care pathway based on preventive and general medicine, specialty medicine, and a proposal of complementary services such as emergency medicine or tele-expertise.
Fovéa differentiates itself from its peers by offering a unique liberal model. This is characterised by balanced governance between the financial partners and the associated veterinarians, with a medical team of more than 250 veterinarians, represented in the capital by 70 veterinary shareholders.
The group is developing selectively in the western half of the country, with a cluster approach to promote synergies between clinics.
The objective of the transaction is to enable Fovéa to sustain its development in France by continuing to federate clinics, while maintaining this balanced governance model. Fovéa's historical shareholder, Société Financière du Cèdre, continues to support the group and is joined in this round of financing by EMZ Partners, which can invest up to €150m and enable Fovéa to become a major player in France.
