AUSTIN – Destination Pet has acquired Roscoe’s Bed + Bark, a dog daycare, boarding and grooming service provider.
Founded in 2015 and based in Portland, ME, Roscoe’s Bed + Bark offers 24/7/365 supervised dog daycare, sleepovers and grooming services in its 13,300-square-foot facility, equipped with air-conditioning, heat and a high purification filter system including UV light purification, ensuring dog safety in extreme weather conditions. The father-daughter team started the business “to give pet parents a less stressful, more transparent dog daycare option,” according to a press release.
Terms of the deal were not disclosed.
Madison Street Capital, an international investment banking firm, served as exclusive advisor to Roscoe’s Bed + Bark on the sale. Charles Botchway, CEO of Madison Street Capital, announced that Managing Director James Cohen led the Madison Street Capital team.
More from release:
Ashley Caywood, Co-founder of Roscoe’s Bed + Bark stated, “’We initially engaged Madison Street Capital to perform a valuation for our business with the longer-term goal of taking the business to market. But the moment we began working with the MSC team, it was clear that they were smart, engaged, professional, and exactly the right team to help us sell. From valuation to due diligence, to going to market, each step of the process was part of a well-oiled machine designed to make it easy for us to market and sell our business for optimal value. Ultimately, we’re confident that Madison Street’s work to leverage their network and create a bidding environment, their guidance to navigate the nuance of each offer, and their savvy leadership through the overall process led to us earning the maximum value on our business – with a quick and smooth timeline to closure. Overall, Madison Street Capital’s partnership exceeded our expectations, and we’re thrilled to have had them representing us through this transaction.”
James Cohen, Managing Director of Madison Street Capital, who led the engagement, commented: “Roscoe’s is a family run organization that has always put its customers and their pets first. Ashley and Adam built the business from the ground up while consistently maintaining best-in-class policies. Their strong customer relationships, operational leadership, and talented pet care team allowed the business to become a leader in their region and a true success story. The entire Madison Street team appreciates the partnership with Ashley and Adam and is excited to see Roscoe’s continuing to succeed and expand as a member of the Destination Pet family.”
Jennifer Strickland Fowler, CEO of Destination Pet, expressed her enthusiasm for the acquisition, stating, “We are incredibly excited to welcome Roscoe’s Bed + Bark employees into the Destination Pet pack. This addition of Roscoe’s Bed + Bark aligns with our commitment to elevating the lives of pet families across the nation and strengthens our position in the marketplace as a leading player in the pet care space. Roscoe’s outstanding reputation enhances our portfolio and their commitment to exceeding the expectations of their pet families aligns with our own. Together, we will continue to raise the bar in pet care.”
About Madison Street Capital
Madison Street Capital is an international investment banking firm committed to integrity, excellence, leadership and service in delivering corporate financial advisory services, merger and acquisition expertise, financial opinions, and valuation services to publicly and privately held businesses. These services position our clients to succeed in the global marketplace. In undertaking each new project, the client’s goals and objectives become ours, ranging from financial advisory and successful capital raises to M&A transactions to transfers of ownership. Madison Street Capital views emerging markets as the core component driving the global growth of our clients and will continue to focus significant assets on these markets. Our firm has earned the trust of clients around the world through our unwavering dedication to the highest levels of professional standards. For additional information, please visit www.madisonstreetcapital.com
About Roscoe’s Bed & Bark
Portland, Maine based Roscoe’s Bed + Bark was born of a clear need for a pet care service that gives pet owners the peace of mind that comes with knowing their pets are in the very best hands.They specialize in dog daycare, boarding and grooming, with both indoor and outdoor play areas. Roscoe’s Bed + Bark provides transparent, best-in-class service to all pet moms and dads whose furry friends aren’t just pets, but members of the family. For additional information, please visit www.roscoesbedandbark.com
About Destination Pet
Destination Pet is a nationwide network of pet resorts and veterinary clinics dedicated to providing total pet wellbeing in more than 35+ states via 190+ locations. Through their innovative Connected Care approach and first-of-its-kind, industry-leading pet app Yourgi, they guide consumers seamlessly through the complexity of pet care by offering convenient access to a comprehensive suite of pet care services from boarding, daycare and grooming to training and veterinary medical care. For more information, please visit www.DestinationPet.com
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