Revelstoke Capital Partners completed an investment in Vet’s Best Friend, which operates general practice veterinary clinics and hospitals. Vet’s Best Friend, established in 2019, owns and operates a portfolio of vet clinics across seven states in the northeast.
Revelstoke Capital Partners (“Revelstoke”), a Denver-based private equity firm, announced it has made a significant investment in Vet’s Best Friend (“VBF” or the “Company”), a Waltham, Massachusetts-based operator of general practice veterinary clinics and hospitals. Established in 2019, VBF currently owns and operates a portfolio of general practice veterinary clinics across seven states in the Northeast. This investment will provide significant liquidity to support VBF’s expansion and accelerated acquisition strategy and continued de novo development.
“At Vet’s Best Friend, our mission is to take care of the people who take care of our pets,” said Jeff Wilson, CEO. “We are very passionate about what we do, and through this partnership, we will progress that mission as a premiere provider of veterinary services across the Northeast. We are excited to leverage Revelstoke’s experience in helping to grow multi-site healthcare services businesses. We expect that this investment will enable the Company to rapidly expand our presence across new and existing markets through acquisitions and de novo locations, working with likeminded veterinarians.”
When acquiring new veterinary hospitals, VBF executes an efficient and transparent acquisition process. VBF has an experienced operations team that assists each practice post-close to streamline day-to-day processes, which allows caregivers to focus on pet care. VBF provides marketing, recruiting, and veterinary mentoring support for each location and believes in driving growth via new patients and current patient retention.
“After a multi-year outbound search in the veterinary services sector, we are pleased to partner with Vet’s Best Friend, a people-centric general practice consolidator that focuses on supporting industry-leading veterinarians to better serve their communities,” said Simon Bachleda, Co-Founder and Managing Partner at Revelstoke. “With more emerging pet parents across the nation and increasing pet life expectancy, the veterinary services sector has experienced substantial consolidation and tailwinds over the last decade that we believe will continue for years to come,” added Anthony Hayes, Principal at Revelstoke.
McGuireWoods LLP acted as legal counsel to Revelstoke. McDermott Will & Emery LLP acted as legal counsel to Vet’s Best Friend.
About Vet’s Best Friend
Vet’s Best Friend was founded in February 2019 to create a people-focused veterinary platform in the Northeast that enables selling veterinarians and pet caregivers to provide the highest quality of care while also promoting a culture of “taking care of the people who take care of your pets.” VBF differentiates itself from other consolidation strategies by focusing on the personal and professional development of every employee while also allowing for clinical autonomy within the guidelines of medical best practices. The business has an established presence in Massachusetts, New Hampshire, New Jersey, New York, Maine, Connecticut, and Pennsylvania and continues to expand across New England.
Revelstoke is a private equity firm formed by experienced investors who focus on building industry-leading companies in the healthcare and related business services sectors. Revelstoke partners with entrepreneurs and management teams to execute on a disciplined organic and acquisition growth strategy as it strives to build exceptional companies. Revelstoke is based in Denver, Colorado and has approximately $2.5 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 88 acquisitions, which includes 21 platform companies and 67 add-on acquisitions.