Spanish private equity firm Espiga Capital has sold Industrial Veterinaria (Invesa) to German rival Animedica.
Headquartered in Barcelona, Invesa has some 200 employees and sells its products in more than 80 countries through subsidiaries and export partners. Animedica has a similar headcount and has a presence across Europe, the Middle East and North Africa.
Espiga bought an 88 per cent stake in Invesa in 2005. At the time the company generated revenues of €19.3m, half of which was generated from overseas markets.