Private equity firm buys a piece of Rarebreed Partners
The investment will allow the young 17-hospital network to continue growing.
Rarebreed Veterinary Partners, the owner of 17 clinics in the Northeastern United States, has sold a minority share of the company to the private equity firm Trilantic North America.
The investment, the terms of which were not disclosed, will help fund Rarebreed’s expansion. The co-founders — CEO Dan Espinal and chief operating officer Sean Miller — will keep their jobs.
Rarebreed was started in 2018 in Portland, Maine, and today employs 450 people.
“What Dan and Sean have been able to build in a short period of time is remarkable,” said Ted Rosenwasser, principal at Trilantic North America. “A core tenet of our investment approach … is to partner with high-growth, founder-led businesses, and the company has positioned itself well to benefit from the rising demand for companion animal health care services as pets are increasingly viewed as members of the family.”
Rarebreed’s business model provides back-office support to clinics and allows the onsite veterinary teams to manage the medical side.
The company’s last acquisition was Greenwich Village Animal Hospital in New York City.
“Our key focus is on delivering a best-in-class experience to our clinical professionals and staff,” Miller said. “When they can focus on operating at the top of their profession, our patients, stakeholders and partners all stand to benefit.”
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