The Financial Week Ahead - Newswatch: Vet group unleashes flotation.
Simon Evans, ex-KPMG man turned group finance director at Dechra Pharmaceuticals, the veterinary products manufacturer and supplier, is next week expected to oversee the group’s flotation on the London Stock Exchange, writes Jerry Frank.
Dechra, advised by Charterhouse Securities, is capitalised at up to #70m, with shares priced between 88p and 136p, and intends to use up to #28m to repay debts.
The Stoke-on-Trent-based group was previously a division of Lloyds Chemicals before namesake chief executive Gary Evans led a management buy-out of the veterinary division in June 1997, backed by Mercury Private Equity and the Bank of Scotland.
Three companies – the National Veterinary Services, Arnolds and Dales – make up the group, which made #7.5m profits last year on sales of #145.5m.
FD Simon Evans graduated from Birmingham University in commerce, before joining KPMG, where he worked for seven years and qualified as a chartered accountant in 1988.
The 36-year-old accountant joined NVS in 1992 as financial controller, before he was promoted in 1993 to finance director, and in 1997 was appointed group finance director of the newly-formed Dechra group.