While it can transform firms for better or worse, the use of private equity in essential services is attracting scrutiny. Here we examine some of its more contentious elements in the UK veterinary sector

Private equity could be the two most controversial words in business. For its supporters, it can bring investment, expertise and efficiency to a company. For critics, it is a one way ticket to profiteering, cutting costs and losing staff.

The arguments over private equity are particularly fierce when it is used in the public sector, particularly the NHS.