An independent veterinary practice in Witham, Essex has become employee-owned following six-figure funding from Unity Trust Bank.

Vet, Mike Probert, wanted his 30-strong team to take over Brookend Veterinary Practice when he retired as reward for their hard work and commitment.

Staff have bought the practice via a discretionary Employee Ownership Trust and thanks to a £400,000 refinance package from social impact bank Unity, Mike can eventually retire knowing the practice will continue its customer-focussed ethos.

Mike, who joined Brookend in 1997 and became sole owner in 2015, said: “When it came to considering exit strategies for me it was essential that any plan ensured the wonderful culture and care at Brookend was maintained and even grown.

“I wanted to make sure the animals and their owners continued to get the same friendly caring service.

“Finally, I wanted to reward everyone who has made Brookend what it is today, some team members have been here since we opened in 1990.

“I discussed this with Martin Leake, my Relationship Manager at Unity, and he was brilliant from the off. He understood what I was trying to do and because of Unity’s ethical values we were a great match.

“Employee ownership can be a complicated process at times but Unity has been amazing and being able to speak to the same person when you call is great.”

Brookend has built a loyal client base of over 4,000 customers. It’s popular Pet Club champions ‘prevention not cure’ and educates new pet owners about preventative care.

Mike said: “We’re completely client-focused here. Yes, it’s about the animals, but it’s also about the people who come in with those animals. We understand that pets are important members of the family. We’re not just looking after them because we have to, but because we really care.

“I could get more money and retire earlier if I sold to a big corporate, but this place has been my entire life’s work and I don’t want to walk away and risk it falling apart.

“I really care about the team and I want to reward them.”

Martin Leake, Relationship Manager at Unity Trust Bank, said: “I have worked with veterinary sector clients for 20 years and 60 per cent of practices are now owned by big corporations.

“As a bank committed to supporting organisations that make a positive difference in local communities, Unity was delighted to support Mike and the Brookend team.”