A veterinary practice in Monmouthshire has become the first vets in Wales to go into employee ownership. Archway Veterinary Centre, which operates practices in Chepstow and Caldicot, is now owned by 26 of its staff after buying the business for an undisclosed amount.
Andrea Reynolds, who has been one of the directors since 2011 and took over sole interest in the firm in 2014, sold her interest to an Employee Ownership Trust (EOT). Ms Reynolds will remain at the veterinary practice as one of three clinical directors alongside three trustee directors, including John McEwan who established the practice before retiring.
Ms Reynolds said: "In South Wales, a large number of veterinary practices have been taken over by corporates and I was becoming increasingly concerned that a monopoly of these companies and private equity firms buying out small independent practices was affecting our industry, and those linked with it.
