Best Friends Pet Care receives a growth investment from Turning Rock Partners

Best Friends Pet Care

Best Friends Pet Care was founded in 1995 with the goal of providing first-class pet care to fully accommodate evolving pet parent needs. For 28 years, Best Friends has established itself as a leading, corporate-owned provider of premium pet services, including boarding, grooming, training and doggy day camp. Best Friends’ commitment to pet care has helped the company expand to more than 40 locations across 17 states, operating as one of the only independent providers in the industry with significant regional scale and nationwide reach. The company’s management has extensive industry experience, coming to Best Friends Pet Care from Petco.

The Deal

Lincoln International acted as the exclusive financial advisor to Best Friends, working closely with the management team and Mosaic Capital Partners throughout the deal process. Through a competitive and robust deal process, the Lincoln team provided valuable industry expertise and managed all aspects of the process, including the preparatory, marketing, negotiation and due diligence phases of the transaction. Lincoln successfully secured a growth capital investment which will help bolster Best Friends’ growth strategy and accelerate its mergers and acquisitions strategy.

Our Perspective

Charles Walder, Lincoln International Managing Director who led the transaction, commented, “We are grateful and honored for the opportunity to have advised Best Friends on this important transaction and growth capital raise. Best Friends is a truly differentiated pet services asset that is well positioned to execute on its strategic growth plan and the M&A roll up opportunity given the highly fragmented nature of the industry. We look forward to seeing the company’s continued success with its new partner, Turning Rock Partners.”

Alejandro Barrera, Lincoln International Director, commented, “Investor interest in the pet services category showcases the focus on both consumer services and broader pet care. Best Friends has the leadership team and infrastructure in place to capitalize on these trends while building an industry leading platform.”

Mosaic Capital Partners

Mosaic is a preeminent employee ownership private equity firm, focused on acquiring lower middle market companies through an Employee Stock Ownership (ESOP) buyout. Mosaic’s buyout structure aims to provide business owners, management teams and employees with a differentiated change of control option. Since its inception, Mosaic has created and supported more than 3,000 employee owners through 13 platform investments, spanning a range of industries including manufacturing, business services, retail, food and beverage, industrials and healthcare. Mosaic brings significant investment, industry and operating experience to each portfolio company.

Turning Rock Partners

Turning Rock is an alternative asset management firm based in New York. Turning Rock seeks to make long-term investments in debt and equity securities in small and mid-capitalization businesses across North America. The firm focuses on founder and employee owned and led businesses with management alignment.

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