Dogged Disruption: PE Pounces on Pet Platforms
After a lackluster two years, the pet industry hopes to rebound.
Six years ago Mosaic Capital Partners, a private equity firm in Charlotte, N.C., entered the pet industry sector with its ESOP acquisition of Best Friends Pet Hotel, which offered dog boarding and other services at 30 U.S. locations. Today, Best Friends owns 72 pet hotels in 26 states, and the company closed on 42 pet hotel acquisitions in the last 18 months alone, according to Ian Mohler, a partner at Mosaic and a Best Friends board member.
“It’s a segment that certainly is going through the early innings of a consolidation wave,” Mohler says.
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