MIAMI and NORWALK, Conn., Feb. 1, 2024 /PRNewswire/ — Lafayette Square, a nationwide funding platform, introduced at present 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 among 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 supplies a holistic suite of pet care providers throughout 39 places in additional than 18 states, together with its flagship Disney World location. The firm is owned partially by its workers by way of an worker inventory possession plan.
“The U.S. pet providers trade is giant and enticing, and Best Friends stands out inside it for its skilled management crew and monitor document of income progress, profitable acquisitions, and resilience by way of varied market cycles,” stated Vishnu Amin, Director at Lafayette Square. “We are proud to work with firms like Best Friends that share our values of stimulating financial progress and offering good jobs to working-class folks throughout the U.S.”
“The assist of Lafayette Square comes at an vital time in our progress technique, as we consider extra acquisition alternatives to carry our world-class providers to extra pet mother and father 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 turn into an integral a part of the household. With extra of them in additional houses than ever earlier than, we see large potential within the years forward.”
In addition to financing, Lafayette Square presents its portfolio firms 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 listing of third-party service suppliers that provide nontraditional advantages for his or her workers. By delivering these options, Lafayette Square goals to cut back operational threat for its portfolio firms, assist them appeal to and retain expertise, and enhance job high quality. To assist its workers, Best Friends Pet Care has adopted HoneyBee’s monetary wellness choices through 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 places, together with Walt Disney World, Best Friends supplies 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 providers with full transparency, nice communication with pet mother and father, the latest advances in security, and a caring workers that loves your pet as a lot as they love their very own. For extra info, go to www.bestfriendspetcare.com.
About Lafayette Square
Lafayette Square invests in center market firms whereas positively supporting folks and communities. We consider the demand for capital in businesses headquartered outdoors of high-income locations is an ignored 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
