MIAMI and NORWALK, Conn., Feb. 1, 2024 /PRNewswire/ — Lafayette Square, a nationwide funding platform, introduced at the moment that it has offered debt financing to assist the acquisition-focused progress technique of Best Friends Pet Care (“Best Friends”). Best Friends Pet Care is likely one of the largest pet service suppliers in the United States, providing boarding, grooming, coaching, and doggy day camp.
Founded in 1995 and headquartered in Norwalk, Connecticut, Best Friends Pet Care gives a holistic suite of pet care companies throughout 39 areas in additional than 18 states, together with its flagship Disney World location. The firm is owned partially by its staff by way of an worker inventory possession plan.
“The U.S. pet companies trade is giant and engaging, and Best Friends stands out inside it for its skilled management group and observe file of income progress, profitable acquisitions, and resilience by way of numerous market cycles,” stated Vishnu Amin, Director at Lafayette Square. “We are proud to work with corporations like Best Friends that share our values of stimulating financial progress and offering good jobs to working-class individuals throughout the U.S.”
“The assist of Lafayette Square comes at an essential time in our progress technique, as we consider further acquisition alternatives to deliver our world-class companies to extra pet dad and mom throughout the United States,” stated Jared Pinsker, CEO of Best Friends Pet Care. “Especially as pet adoption charges have elevated over the previous few years, pets have change into an integral a part of the household. With extra of them in additional houses than ever earlier than, we see super potential within the years forward.”
In addition to financing, Lafayette Square gives its portfolio corporations access to Worker Solutions, a custom-built platform that seeks to measurably enhance worker retention, well-being, and productiveness by connecting administration groups to a curated checklist of third-party service suppliers that provide nontraditional advantages for his or her staff. By delivering these options, Lafayette Square goals to cut back operational threat for its portfolio corporations, assist them entice and retain expertise, and enhance job high quality. To assist its staff, Best Friends Pet Care has adopted HoneyBee’s monetary wellness choices by way of the Worker Solutions platform.
About Best Friends Pet Care
Founded in 1995 and at present employee-owned, Best Friends Pet Care has loved “chief of the pack” standing for greater than 30 years. With over 39 areas, together with Walt Disney World, Best Friends gives prospects with the very best pet care in a handy and pleasant ambiance the place security, consolation, and enjoyable are on the core of their high-quality boarding, doggy day camp, grooming, and coaching companies with full transparency, nice communication with pet dad and mom, the latest advances in security, and a caring workers that loves your pet as a lot as they love their very own. For extra data, go to www.bestfriendspetcare.com.
About Lafayette Square
Lafayette Square invests in center market corporations whereas positively supporting individuals and communities. We imagine the demand for capital in businesses headquartered outdoors of high-income locations is an missed alternative. We search funding alternatives that stimulate financial progress throughout the United States by way of the creation and preservation of working-class jobs. For extra details about Lafayette Square, please go to www.lafayettesquare.com.
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SOURCE Lafayette Square Holding Company