Pet Resort Hospitality Group Announces Five Acquisitions of Leading Pet Resort Brands
Trivest Partners ("Trivest"), Queens Court Capital ("Queens Court") and Pet Resort Hospitality Group ("PRHG"), announced today the addition of five leading pet resort brands to the company's portfolio, bringing the total number of pet resorts across the company to 17. The new brands in the portfolio include: Meadowlake Pet Resort and Training Center (Houston, TX), a two unit resort owned and operated by industry veteran Carroll Ray for over 20 years; Olde Towne Pet Resorts (DC) with three high-end facilities and a well-staffed analytics and operations group; Playtime Pet Resort (Philadelphia, PA) with two luxury locations servicing Philadelphia's Main Line clientele; Paws ?n' Rec (Tampa, FL) with four locations all built in the last three years and a unique membership model; and Williamsburg Pet Hotel and Suites (St. Louis, MO), a third-generation owned and operated family business.
With 17 locations, 600+ staff members, and over 1,700 daily pet visits, these partnerships have quickly solidified PRHG as one of the leading pet services companies in the country. PRHG is continuing to pursue strategic acquisitions with leading pet resorts across the US and is also focused on growing the six existing brands in their portfolio.
The announcement follows PRHG's formation in 2023, a buy-and-build thesis in the pet services industry with the goal of building a best-in-class operation across various states with a focus on daycare, boarding, grooming, and training. PRHG was founded as a partnership between Queens Court, led by Azhar Quader, Eyal Cohen, a veteran in the pet services industry, and Trivest. Investment comes from Trivest Discovery Fund II, a $600 million fund dedicated to investing in founder and family-owned businesses within fragmented industries that have enormous potential to scale. "Partnering with Trivest allowed us to quickly fund these acquisitions and bring together a world-class team of pet care owners and operators under the PRHG brand. With the addition of these five incredible brands to the PRHG family, we are realizing our vision of becoming one of the leading pet services companies in the country," said Quader.
"Our experience operating pet resorts prior to forming PRHG helped us identify these first key partners. Together, we're looking forward to delivering unrivaled hospitality for pet parents, quality care for pets, and newfound opportunities for our team," said Eyal Cohen, co-founder and Chief Development Officer at PRHG.
"Trivest and PRHG both believe in the power of partnering with and growing founder and family-owned businesses in fragmented industries like pet services. All these companies have strong teams and aspirations for growth we're already supporting through our portfolio support group. We're thrilled the platform is growing so rapidly and we look forward to continued growth in 2024," added Brian Connell, Partner at Trivest.
"We partnered with PRHG and Trivest because we felt they really understood our business and shared our values," said Taylor Wallace, President at Paws ?n' Rec. "We've grown to four locations in three years, and we're hungry to continue expanding in Tampa Bay and beyond. PRHG has already helped us open our newest location, and we're actively working with them to expand our brand faster than was possible on our own."
Pet industry veteran and the owner of Meadowlake Pet Resorts, Carroll Ray, added, "As I sought to retire, I wanted to partner with a company that understood the unique needs of both our customers and our employees and would foster us towards the next phase of growth. Working with PRHG is allowing my longstanding employees incredible career opportunities and I know our customers and their pets will be well taken care of for years to come."
About Pet Resort Hospitality Group
Pet Resort Hospitality Group is a provider of pet services including daycare, boarding, grooming, and training. PRHG is led by a management team with a lengthy track record of successful private equity transactions, with recent success in the animal companion space. Each business within the PRHG family benefits from the experience of the PRHG leadership team in areas such as acquisition planning and integration, growth planning and strategic tactics, brand and technology unification, scalable resources and support, and back-office management. The Company is currently pursuing strategic add-on acquisitions of pet services businesses throughout the United States. To learn more, visit www.petresorts.love
About Trivest
Trivest Partners LP, headquartered in Miami, with a presence in Charlotte, Chicago, Denver, Los Angeles, New York, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. To learn more, visit www.trivest.com
About Queens Court Capital Management
Queens Court Capital Management is a new age private equity firm that incorporates the best practices from being an operator, an entrepreneur, and an investor. Led by Azhar Quader, Queens Court is a special situations control oriented private equity firm building on a successful track record as an independent sponsor. Over the past few years Queens Court has deployed over $200 million in equity capital across several proprietary platforms in the middle market and has successfully realized results putting it in the top percentile of independent sponsors. In each investment Queens Court activates value creation playbooks strategically and leverages deep operator networks, maximizing returns in each investment, while protecting for the downside. Queens Court has generated significant value creation for its investor base including successful exits, partial sales, and dividend recapitalizations across portfolio companies. To learn more, visit www.queenscourtcap.com
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