MIAMI, January 30, 2024–(BUSINESS WIRE)–Trivest Partners (“Trivest”), Queens Court Capital (“Queens Court”) and Pet Resort Hospitality Group (“PRHG”), introduced at the moment the addition of 5 main pet resort manufacturers to the corporate’s portfolio, bringing the full variety of pet resorts throughout the corporate to 17. The new manufacturers within the portfolio embrace: Meadowlake Pet Resort and Training Center (Houston, TX), a two unit resort owned and operated by business veteran Carroll Ray for over 20 years; Olde Towne Pet Resorts (DC) with three high-end amenities and a well-staffed analytics and operations group; Playtime Pet Resort (Philadelphia, PA) with two luxurious places servicing Philadelphia’s Main Line clientele; Paws ‘n’ Rec (Tampa, FL) with 4 places all constructed within the final three years and a novel membership mannequin; and Williamsburg Pet Hotel and Suites (St. Louis, MO), a third-generation owned and operated household business.
With 17 places, 600+ workers members, and over 1,700 every day pet visits, these partnerships have rapidly solidified PRHG as one of many main pet providers firms within the nation. PRHG is constant to pursue strategic acquisitions with main pet resorts throughout the US and can be centered on rising the six current manufacturers of their portfolio.
The announcement follows PRHG’s formation in 2023, a buy-and-build thesis within the pet providers business with the objective of building a best-in-class operation throughout varied states with a deal with daycare, boarding, grooming, and coaching. PRHG was based as a partnership between Queens Court, led by Azhar Quader, Eyal Cohen, a veteran within the pet providers business, and Trivest. Investment comes from Trivest Discovery Fund II, a $600 million fund devoted to investing in founder and family-owned businesses inside fragmented industries which have monumental potential to scale. “Partnering with Trivest allowed us to rapidly fund these acquisitions and convey collectively a world-class crew of pet care house owners and operators below the PRHG model. With the addition of those 5 unimaginable manufacturers to the PRHG household, we’re realizing our imaginative and prescient of changing into one of many main pet providers firms within the nation,” stated Quader.
“Our expertise working pet resorts previous to forming PRHG helped us establish these first key companions. Together, we’re trying ahead to delivering unequalled hospitality for pet dad and mom, high quality look after pets, and newfound alternatives for our crew,” stated Eyal Cohen, co-founder and Chief Development Officer at PRHG.
“Trivest and PRHG each imagine within the energy of partnering with and rising founder and family-owned businesses in fragmented industries like pet providers. All these firms have sturdy groups and aspirations for progress we’re already supporting by our portfolio help group. We’re thrilled the platform is rising so quickly and we sit up for continued progress in 2024,” added Brian Connell, Partner at Trivest.
“We partnered with PRHG and Trivest as a result of we felt they actually understood our business and shared our values,” stated Taylor Wallace, President at Paws ‘n’ Rec. “We’ve grown to 4 places in three years, and we’re hungry to proceed increasing in Tampa Bay and past. PRHG has already helped us open our latest location, and we’re actively working with them to increase our model sooner than was doable on our personal.”
Pet business veteran and the proprietor of Meadowlake Pet Resorts, Carroll Ray, added, “As I sought to retire, I needed to companion with an organization that understood the distinctive wants of each our clients and our workers and would foster us in the direction of the subsequent part of progress. Working with PRHG is permitting my longstanding workers unimaginable profession alternatives and I do know our clients and their pets will probably be properly taken care of for years to come back.”
About Pet Resort Hospitality Group
Pet Resort Hospitality Group is a supplier of pet providers together with daycare, boarding, grooming, and coaching. PRHG is led by a administration crew with a prolonged observe document of profitable non-public fairness transactions, with recent success within the animal companion house. Each business throughout the PRHG household advantages from the expertise of the PRHG management crew in areas resembling acquisition planning and integration, progress planning and strategic ways, model and expertise unification, scalable assets and help, and back-office administration. The Company is presently pursuing strategic add-on acquisitions of pet providers businesses all through the United States. To be taught extra, go to www.petresorts.love
About Trivest
Trivest Partners LP, headquartered in Miami, with a presence in Charlotte, Chicago, Denver, Los Angeles, New York, and Toronto, is a personal funding agency that focuses completely on the help and progress of founder-led and family-owned businesses within the United States and Canada in each management and non-control transactions. To be taught extra, go to www.trivest.com
About Queens Court Capital Management
Queens Court Capital Management is a brand new age non-public fairness agency that includes the most effective practices from being an operator, an entrepreneur, and an investor. Led by Azhar Quader, Queens Court is a particular conditions management oriented non-public fairness agency building on a profitable observe document as an impartial sponsor. Over the previous few years Queens Court has deployed over $200 million in fairness capital throughout a number of proprietary platforms within the center market and has efficiently realized outcomes placing it within the high percentile of impartial sponsors. In every funding Queens Court prompts worth creation playbooks strategically and leverages deep operator networks, maximizing returns in every funding, whereas defending for the draw back. Queens Court has generated vital worth creation for its investor base together with profitable exits, partial gross sales, and dividend recapitalizations throughout portfolio firms. To be taught extra, go to www.queenscourtcap.com
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Contacts
Eyal Cohen
[email protected]
