STATEMENT: UNAVETS receives financing of 116 million euros from Ares Management to support its growth

(Information sent by the signatory company).

STATEMENT: UNAVETS receives financing of 116 million euros from Ares Management to support its growth

(Information sent by the signatory company)

LONDON, Nov. 23, 2022 /PRNewswire/ -- UNAVETS Group ("UNAVETS"), the leading veterinary healthcare group with more than 90 centers in Spain and Portugal, today announced that it has secured an additional €116 million from the Ares Management Credit funds. Part of the capital will go towards refinancing existing debt, while the majority will go towards financing future acquisitions and capital expenditures to acquire hospitals and veterinary clinics and continue purchases and investments of adjacent businesses. UNAVETS is currently majority owned by funds managed by Oaktree Capital Management L.P. ("Oak Tree").

"We are delighted that Oaktree, and now Ares as well, are supporting our platform, helping fuel our growth," said Junko Sheehan, CEO and President of UNAVETS. "As we continue to evolve UNAVETS, this funding will give us additional firepower to invest strategically across the veterinary industry - meaning people, facilities, equipment and innovation - to provide the best care for our pets and the continued professional development and future of our veterinarians."

Thanks to Ares' commitment and support, UNAVETS is now even better positioned to continue its successful strategy, employing more than 900 veterinary health professionals and support staff in less than three years since its inception. The UNAVETS management team brings significant experience both in the veterinary sector and from a business point of view. The company recently added Enrique Cardona (COO and Country Manager Spain; formerly CEO of Vetsum) to the executive team, along with Guilherme Assis (Country Manager OneVet / Portugal), Aaron Sisternes (CFO) and Ignacio González (director of mergers and acquisitions and expansion). The entire HQ team of around 50 people is focused on supporting all clinical managers and teams from the Group's clinics.

In addition to supporting clinical teams with the necessary resources to continue to grow and evolve, UNAVETS also continues to grow inorganically through mergers and acquisitions. The company has invested creatively across the veterinary healthcare sector, strategically placing capital in adjacent areas that are synergistic with its current portfolio, which has also helped accelerate its growth. Karim Khairallah, Managing Director and Co-Head of Oaktree's European Major Group Portfolio, commented, "The UNAVETS platform has experienced strong growth since its inception and its management team has well positioned the business for the next stage of organic growth. and inorganic.The Ares financing is proof of this and provides UNAVETS with adequate funding for the long-term growth needed in this sector.Oaktree European Core Group has worked closely with Ares on multiple transactions, specifically on strategies purchase and construction, and Ares has provided a flexible and tailored financing solution that adjusts to the growing needs of UNAVETS."

The veterinary sector in Iberia has undergone a phase change in consolidation over the last two years and it is more than likely that this trend will accelerate in the coming years. In addition to the natural trend toward consolidation, research reports have continued to verify that, in general, people are not willing to easily compromise spending on the health of their family members, which now include their pets. Alonso Torre de Silva, Managing Director of Ares Credit Group in Madrid, commented: "The veterinary healthcare sector continues to show strong growth despite economic headwinds, demonstrating strong forecasting fundamentals and resilience to recession. Ares is pleased to provide capital to UNAVETS as it continues to build on its track record of rapid growth and controlled performance."

UNAVETS and Oaktree have counted on the advice of Houlihan Lokey on corporate finance, EY on tax and Weil Gotshal

About UNAVETSUNAVETS Group ("UNAVETS") is a leading veterinary healthcare group with 91 practices in Spain and Portugal. UNAVETS is made up of reference/specialized centers, 24-hour hospitals, primary opinion clinics and veterinary offices, which guarantee a complete service offer. Its growth strategy began by focusing on Iberia, but has since expanded to other European countries and the United States, as well as adjacent verticals synergistic with veterinary healthcare. UNAVETS stands out for its strong investment in clinical training directed by science, in equipment and in support of the clinics' business; continuing the push for advanced veterinary care. For more information, visit: https://www.unavets.com.

About Ares Management Corporation Ares Management Corporation (NYSE: ARES) is a world-leading alternative investment manager, providing clients with complementary primary and secondary investment solutions in the credit, private equity, real estate and infrastructure asset classes. The firm seeks to provide flexible capital to support companies and create value for their shareholders and within their communities. Through the collaboration of all its investment groups, Ares Management Corporation aims to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2022, Ares Management Corporation's global platform had approximately $341 billion of assets under management, with more than 2,450 employees operating in North America, Europe, Asia Pacific and the Middle East. For more information, visit www.aresmgmt.com.

About OaktreeOaktree is a leader among global investment managers specializing in alternative investments, with $163 billion in assets under management as of September 30, 2022. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments. investments in credit, private capital, real assets and listed shares. The company has more than 1,050 employees and offices in 20 cities around the world. For more information, please visit Oaktree's website at //www.oaktreecapital.com/.

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