Full Service Mixed Veterinary Clinic VOK092 – Central Oklahoma

Relying on Midwest core values, this mixed, primarily large animal veterinary practice has built a strong regional reputation. The current owner has been servicing this community since 1992 and offers numerous animal care services within the central Oklahoma region. The business is well respected locally as new clients mostly originate via personal relationships based on the owner’s involvement in 4-H / children’s livestock shows and trophy sponsorships. Operating with an S-corp. classification, this business works six days a week and services approximately 290 local clients per month while adding approximately 10 new per month. Over the years, they have built a history of working with 3,500 average annual clients (with large animals accounting for approximately 85% of current clients). Looking to preserve these community ties, the current owner is a motivated seller that is interested in transitioning the business within the next two to three years and is willing to support a new owner for a transition period over a mutually agreed upon time period.

Besides the owner, they employ 8 full-time staff; 4 veterinarians, 2 large animal assistants,1 kennel assistant and 1 receptionist. They also have 7 part-time employees; 1 veterinarian, 1 kennel assistant and 5 assistants. Current staff offers multi-year experience, are considered to be well trained and will likely remain on after the sale. This practice is the only one of its kind in an 18+ mile region that offers dependable service outside of normal hours. Small animal services include preventative, diagnostic, medical and surgical options including; wellness exams, vaccinations, deworming, spay / neutering and dental care. Large animal specialties include stocker calve processing, bull fertility testing, pregnancy testing, cow/bull processing and obstetrical work. The current listing also generates additional income from the sale of large animal pharmaceuticals and a IDEXX supported specialized laboratory which offers testing services that fit into any operation, whether large or small. The lab is capable of offering PI-BVD testing on cattle and pregnancy testing on cattle, goats, sheep, llamas and buffalo. Surgery services are also offered to both companion and large animals and include; anesthesia, soft-tissue, caesarian birthing and orthopedic procedures.

The 7,200 square foot facility is owned by the current owner separately who leases it back to the business. Since the owner privately owns the building, a lease option or outright purchase of the real-estate can be discussed as part of the sale. The facility offers easy trailer access and contains a reception area, a retail/waiting room, a storage room, one staff break room, a general lab area, 2 exam rooms, a hydraulic-enabled large animal exam area, an x-ray room, 7 cattle pens, a kennel, a laundry room and one executive office. Touting a well-kept modern facility, their RCA phone system and Avimark veterinary practice management software (AVI-Mark) is integrated throughout. Diagnostic equipment includes a HF100+ minX-ray, an ultrasound machine, a Welch Allyn ophthalmology equipment, blood tube rocker and micro centrifuge. Other notable equipment includes; a kennel system, a Dentilaire Dental Cart, a PeltonCrave Autoclave, and a VSSL WayScale vet platform scale. Surgical equipment includes an Ohmeda Anesthesia machine, a Cardell Monitor, small animal Shor-line surgical table, and a Surgivet surgical monitor and stand. Shor-line and Snyder cages are used for pre-and-post-op and general treatment. Mobile equipment includes a Mobile Vet Clinic Bowie Box, a 2012 Ford pickup and a 2014 Ford F-250. The sale would include all of the assets, owned equipment, supplies and client list.

This business has grown at a steady pace over the past five years, with gross revenue growing at a compound annual growth rate (CAGR) of over 7.8%. Since 2011, the business has grown its sales from $1.2M+ to over $1.9M+ (in 2016) and is expected to maintain its current base of revenue while continuing to grow in 2017. This current listing has potential for additional bottom-line growth via greater expansion of current facility operations through additional marketing, expanded small animal using latent capacity, additional service employees and improved equipment efficiencies. Net income or operating profit is estimated at over 13% of revenue ($250K+). Annual discretionary cash flow earnings, i.e. adjusted EBITDA, is estimated to be 18%+ of revenue (~$350K+), which is sufficient to service any debt financing and still receive a decent remuneration package. The estimated value range of this practice from operations is between $890K and $1.2M (excluding cash, receivables, inventory, liabilities and facilities). For illustration purposes, based on weighted averages of our analysis/method, as described in the valuation report, the estimate of value of the Company as of December 31, 2016 is around $1.06M.

* Adjusted EBITDA = EBIT plus Depreciation and Adjustments (excludes Owners compensation)

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If you are interested in any of these offers or would like more information about the program or process, please contact Denton Zeeman at 785-864-8863, dentonz@ku.edu, or redtire@ku.edu.

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