Veterinary medicines supplier Animalcare Group has sold its majority stake in pet microchipping business Identicare to a fund managed by Bridgepoint for £24.9m.

Identicare is the UK's leading microchipping and pet protection specialist business.

Founded in 1989 by Animalcare plc, Identicare operates the UK's longest-established and largest microchipping and keeper registration database. In 2021 the brand became a separate subsidiary company and in 2022 signed a development venture with entrepreneur Robert Diamond (pictured) to help the company develop an innovative range of pet protection services for millions of pet lovers.

Following this new deal, Identicare is now backed by Bridgepoint, one of the UK's largest growth investors.

Identicare CEO Robert Diamond said: "I want to thank Animalcare for their supportive stewardship of Identicare over the years. We are committed to rapidly growing our promise to pet keepers, both in the UK and hopefully overseas. 

"With the backing of a strong financial partner we will grow the team across all areas of microchipping , registration services and real-time support for keepers whose pets sadly go missing."

Jenny Winter, Animalcare chief executive officer, said: “I’m very proud to see what we have achieved with Identicare in recent years.

“Today’s decision to crystallise the value from the sale is the logical next step, significantly strengthening our balance sheet and giving us additional financial flexibility and firepower as we concentrate on growing our pharmaceutical-focused animal health business.”