Leading European provider of veterinary care


AniCura is a leading European group of animal hospitals and clinics specialised in veterinary care for companion animals. Born out of the idea that sharing resources creates opportunities for better veterinary care, the company was established in 2011 as the first merger of companion animal hospitals in the Nordic region. Today, AniCura is a role model within specialised veterinary care and a valued partner for pet owners and referring veterinarians across Europe.

AniCura offers a wide range of high-quality medical services covering preventive and basic health care as well as advanced diagnostics, internal medicine, intensive care, surgery and orthopaedics.

AniCura provides modern, high quality veterinary care for pets through over 300 clinics across Europe and creates peace of mind for pet owners through excellent access and patient safety. Every year 2,000 veterinarians attend to more than two million companion animal patients.

AniCura is today present in Sweden, Norway, Denmark, Germany, the Netherlands, Austria, Switzerland, Italy and Spain.

In 2014, AniCura was partially divested to Nordic Capital and the company has since then continued its expansion throughout Europe. In November 2018, AniCura was fully divested to Mars Petcare, a family-owned and leading veterinary health provider in the U.S.

CEO: Peter Dahlberg (2012-2019), Azita Shariati (2019-)
Head office: Stockholm, Sweden
Employees: 4,000
Acquisition year: 2011
Acquisitions: 150+
Exit year: 2018
Industry: Animal health
Website: anicura.se

Investment Case

AniCura was created in November 2011 when Fidelio enabled the merger between Regiondjursjukhuset i Stockholm, Västra Djursjukhuset i Göteborg och Falu Djursjukhus (three leading veterinary hospitals in Sweden). The merger was the first of its kind in the Nordic region and created a leader in veterinary care in Sweden. Fidelio Capital was attracted by a fragmented market with strong underlying growth and a great potential for professionalisation. Between 2011 and 2014 Fidelio acquired in total 60 hospitals and clinics in Sweden, Norway and Denmark. The fast pace of acquisitions was enabled by the development of a highly efficient acquisition process in combination with the newly recruited top management team (led by CEO Peter Dahlberg who joined AniCura in April 2012) building up a strong corporate infrastructure in order to support a high growth and enabling the expansion into new geographies. The merger of clinics and hospitals within AniCura enabled increased professionalisation through (inter alia): knowledge sharing between clinics, centrialised corporate functions, more efficient care processes and increased investments in advanced equipment.

With a significant focus on coordinated education efforts and an increased specialisation opportunities for the staff, AniCura rapidly became an attractive workplace for both veterinarians and nurses. That way, for every year since inception the organic growth of AniCura’s clinics outpaced the growth of the market. In August 2014, Fidelio divested part of its holding in AniCura to Nordic Capital, which became the new majority shareholder. Fidelio remained as a significant shareholder and has been continuously active in the Group’s development through, among other things, board representation and assistance with add-on acquisitions. In June 2018, Fidelio and Nordic Capital agreed to sell AniCura to Mars Petcare, a family owned and leading player in animal health and veterinary medicine. The sale represents the first time Fidelio fully divested a shareholding in one of its investments. The deal was awarded the price “the Nordic deal of the year” at the Real Deal Private Equity Award in London 2019. During Fidelio Capital’s seven-year ownership period, Fidelio helped AniCura to grow 16-fold from SEK 260m in 2011 to SEK 4,200m in 2018. At the same period the Group increased its number of clinics from 5 to over 200 and its employees from 250 to 4,000. AniCura is today present in nine countries and has revenues of around SEK 5 billion.


Strategic initiatives


During Fidelio’s ownership over 150 companies were acquired, creating a Group with over 200 units

Recruitment of new professional management team

Fidelio recruited a completely new management team, together with CEO Peter Dahlberg who was recruited to Anicura by Fidelio in 2012

Build-up of group functions

Creation of central group functions serving the acquired units with expertise within HR, IT, Marketing, Sourcing, Finance, Accounting etc.

Geographical expansion

Expansion into seven countries

New brand and graphical profile

Launch and implementation of new Group brand (Anicura) including logo and graphical profile

Related news

Mars Petcare to acquire AniCura

AniCura, a leading European provider of high-quality veterinary care for companion animals, is acquired by Mars Petcare. Read the full press release here.

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Nordic Capital invests in AniCura

Nordic Capital Fund VIII, “Nordic Capital”, announces its investment in AniCura, the leading Nordic operator of companion animal hospitals and veterinary clinics. With both Fidelio and Nordic Capital as owners, AniCura will be strengthened for the next phase of its

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Djursjukhusgruppen becomes Anicura

In 2011, Djursjukhusgruppen was established as the first consolidator of animal hospitals in the Nordic region. Today, the company changes its name to AniCura to reflect its ongoing international expansion and ambition to unite all animal hospitals and clinics under

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Peter Dahlberg new CEO of Djursjukhusgruppen

Fidelio Capital recruits Peter Dahlberg as new CEO of Fidelio’s Group of veterinary hospitals and clinics, Djursjukhusgruppen.

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Fidelio creates the leading veterinary group in S…

Since 2010, Fidelio Capital has evaluated the opportunity to invest in veterinary care. Though the merger of Stockholms Regiondjursjukhus AB, Västra Djursjukhuset i Göteborg AB and Falu Djursjukhus AB, Fidelio Capital creates the leading veterinary group on the Swedish market.

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