CVS Group completes crematoria sale, Australia acquisition

(Sharecast News) - CVS Group announced the completion of the sale of its crematoria operations to Anima Care UK, part of the Funecap Group, for £42.4m on Monday. The AIM-traded firm said the disposal, announced in April, was completed at a 10x multiple of adjusted EBITDA and would result in a one-off exceptional gain of around £32m in CVS's 2025 accounts.

It said the transaction would see the crematoria business treated as discontinued, reducing forecasted continuing revenue by £12.3m and adjusted EBITDA by £4.3m.

Separately, CVS said it had finalised the acquisition of Veterinary Practice Partners in the Australian state of Victoria, adding six practice sites.

That brought its total acquisitions in the financial year to 14 sites across six transactions, with a combined upfront consideration of AUD 55.8m (£28.2m).

CVS said it now operates 42 sites across 28 practices in Australia, with a strong pipeline of further deals reportedly underway.

At 1019 BST, shares in CVS Group were down 0.54% at 1,241.3p.

Reporting by Josh White for Sharecast.com.