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Montagu Private Equity acquires Danish Leo Animal Health

European mid-market firm Montagu Private Equity has acquired LEO Animal Health in partnership with the company's incumbent management team. Financial details of the transaction have not been disclosed and the transaction is still subject to regulatory approvals.

LEO Animal Health, a subsidiary of privately-owned Danish pharmaceutical company LEO Pharma, is a specialist in animal skin, eye and ear diseases and also produces pet diet food and pet care products. LEO Animal Health will be renamed VetXX by its new owners.

Montagu investment director Matt Lyons said, 'LEO Animal Health fits well into Montagu's strategy of investing in high-quality companies with strong, long-term customer relationships and significant growth and development potential.'

Following the transaction, Jens Ingwersen will continue as LEO Animal Health's chief executive and the company's incumbent management team will own a 12 per cent shareholding.

Montagu recently carried out another transaction is Scandinavia, when, together with PPM and MB Funds, it agreed to sell pulp chemicals producer Finnish Chemicals to international chemicals business Kemira for €345m.

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