MIAMI and NORWALK, Conn., Feb. 1, 2024 /PRNewswire/ — Lafayette Square, a national investment platform, announced today that it has provided debt financing to support the acquisition-focused growth strategy of Best Friends Pet Care (“Best Friends”). Best Friends Pet Care is one of the largest pet service providers in The united stateoffers boarding, grooming, training, and doggy day camp.
Founded in 1995 and headquartered in Norwalk, Connecticut, Best Friends Pet Care provides a holistic suite of pet care services at 39 locations in more than 18 states, including its flagship location at Disney World. The company is owned in part by its employees through an employee stock ownership plan.
“The US pet services industry is large and attractive, and Best Friends stands out for its experienced leadership team and track record of revenue growth, successful acquisitions, and stability through others’ t different market cycles,” said Vishnu Amin, Director at Lafayette Square. “We are proud to partner with companies like Best Friends that share our values of stimulating economic growth and providing good jobs to working people across the US”
“Lafayette Square’s support comes at an important time in our growth strategy, as we explore additional acquisition opportunities to bring our world-class services to more pet parents around the world. The united state,” said Jared Pinsker, CEO of Best Friends Pet Care. “Especially as pet adoption rates have increased over the past few years, pets have become an integral part of the family. With more of them in more homes than ever before, we see tremendous potential in next years.”
In addition to financing, Lafayette Square offers access to its portfolio companies Workforce Solutions, a custom-built platform that aims to measurably improve employee retention, well-being, and productivity by connecting management teams with a curated list of third-party service providers that offer non-traditional benefits for their employees. By delivering these solutions, Lafayette Square aims to reduce operational risk for its portfolio companies, help them attract and retain talent, and improve the quality of work. To support its employees, Best Friends Pet Care has adopted HoneyBee’s financial wellness offerings through the Worker Solutions platform.
About Best Friends Pet Care
Founded in 1995 and currently employee-owned, Best Friends Pet Care has enjoyed “leader of the pack” status for more than 30 years. With over 39 locations, including Walt Disney World, Best Friends provides customers with the absolute best pet care in a comfortable and friendly environment where safety, comfort, and fun are at the core of their high quality boarding, doggy day camp , grooming, and training services with full transparency, excellent communication with pet parents, the latest safety advancements, and a caring staff that loves your pet as much as they love themselves . For more information, visit www.bestfriendspetcare.com.
About Lafayette Square
Lafayette Square invests in middle market companies while positively supporting people and communities. We believe that the need for capital in businesses headquartered outside of high-income areas is an overlooked opportunity. We look for investment opportunities that stimulate the growth of the economy as a whole The united state by creating and preserving working class jobs. For more information about Lafayette Square, please visit www.lafayettesquare.com.
Media Contact:
Jansel Murad
Dukas Linden Public Relations
646-722-6537
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SOURCE Lafayette Square Holding Company
