NEW YORK — Turning Rock Partners, a New York-based private investment firm, has provided a growth investment to Best Friends Pet Care, a privately held business headquartered in Norwalk, CT.
Best Friends is a provider of pet services including boarding, grooming, training and doggy day camp. The company has expanded to more than 40 locations across 18 states, operating as one of the only independent providers in the industry with significant regional scale and nationwide reach.
“Best Friends is an attractive investment for Turning Rock because it is Employee Owned Certified, which gives employees a direct incentive to work hard and take pride in what they do,” said Turning Rock President Saba Ahmad. “The Company being employee owned demonstrates a high degree of alignment and the management also has extensive industry experience, coming to Best Friends from Petco. This combination was appealing to TRP.”
Financial terms of the investment were not disclosed.
More from the press release:
Existing shareholders also participated in the new round of capital.
“The investment from Turning Rock will enable the Company to expand its footprint across the nation and aggressively pursue its acquisition strategies,” said Best Friends CEO Jared Pinsker. “The funding comes at a pivotal time of growth for our pet care company. There have never been more pets in homes than there are today, and we couldn’t be more excited to partner with Turning Rock to increase our presence and continue to enhance our brand on the national level with our world class services.”
Turning Rock was advised on the transaction by Milbank LLP for legal, Bennett Thrasher for accounting, BDO USA, LLC for tax advisory, Lockton Companies on insurance, Silver Regulatory Associates on ESG/DEI, and Senior Advisors Carlos Gil and Mitchell Marrow.
About Turning Rock Partners:
Turning Rock Partners (TRP) targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.
About Best Friends Pet Care
Founded in 1990 and currently employee-owned, Best Friends Pet Care has enjoyed “leader of the pack” status for more than 30 years. With over 40 locations, including Walt Disney World, Best Friends provides customers with the absolute best pet care in a convenient and friendly atmosphere where safety, comfort, and fun are at the core of their high-quality boarding, Doggy Day Camp, grooming, and training services with full transparency, great communication with pet parents, the latest advances in safety, and a caring staff that loves your pet as much as they love their own.
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