PAI Partners has agreed to acquire Nuzoa from Abac Capital

Nuzoa

Established in 2020, Nuzoa has become the leading integrated animal health platform in Iberia, serving a diverse customer base of 17,000 veterinarians, farmers and pet retailers. The company offers a wide-ranging portfolio of products and services for veterinary professionals, supported by a network of logistics centers across Spain. These facilities stock over 14,000 items, including pharmaceuticals, equipment, consumables, pet food and accessories. Additionally, Nuzoa provides a comprehensive suite of digital tools and laboratory services for veterinary clinics.

Nuzoa has demonstrated strong growth through consolidation, completing 13 acquisitions to date. These strategic acquisitions have expanded its product range, enhanced service capabilities and extended its footprint across the Iberian Peninsula. The company’s trajectory has been driven by favorable sector trends such as increasing pet ownership, an aging pet population and greater consumer spending on pet health and wellness.

The Deal

Lincoln International advised PAI Partners on the strategic acquisition of Nuzoa, a transaction executed through a competitive process. Leveraging its deep sector expertise in distribution and animal health, Lincoln provided critical support in evaluating the opportunity and delivering valuable insights throughout the process.

The acquisition of Nuzoa represents a compelling opportunity for PAI to build a scalable platform both in Spain and internationally by expanding into new geographies and further strengthening Nuzoa’s market leadership and commitment to service excellence.

Our Perspective

Iñigo González de Castejón, Managing Director at Lincoln International who led the transaction, commented, “PAI Partners’ acquisition of Nuzoa marks an exciting opportunity to support the leading animal health distributor in Iberia as it scales to become a pan-European platform. We are pleased to have advised PAI on this transaction and look forward to continuing our support in this next phase of growth.”

Abac Capital, S.L.

Established in 2014, Abac Capital is an independent private equity firm based in Spain, focused on investing in mid-sized companies with strong growth potential. The firm partners with management teams to drive long-term value creation through operational improvements, strategic growth and sector consolidation.

PAI Partners

PAI Partners is a leading European private equity firm with a long track record of supporting companies through transformational growth. With offices across Europe and over €27 billion in assets under management, PAI focuses on acquiring market-leading businesses and helping them scale through organic initiatives and strategic acquisitions.

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