Rarebreed Support Fund which completed the acquisition of Vet’s Best Friend to create a a leading platform for veterinary services in the north-eastern part of the country United States
DENVER, July 14, 2022 /PRNewswire/ — Revelstoke Capital Partners (together with its “Revelstoke” affiliates), a private equity firm focused on investing in healthcare companies, announced today that it has closed fundraising for the Revelstoke EPIC Fund III (“EPIC III” or “fund”) to support the growth of Rarebreed Veterinary Partners (“Rarebreed”), which Revelstoke recapitalized in December 2021. EPIC III, p 376 million dollars commitments, was significantly oversubscribed and is the third single-asset vehicle in Revelstoke’s EPIC Fund series, totaling over 1 billion dollars in engagements. Since the firm’s inception in 2013, Revelstoke has raised over 3.9 billion dollars in capital commitments and has invested in 25 platform companies and 132 additional acquisitions.
Concurrent with the closure of EPIC III, Rarebreed completed the acquisition of Revelstoke Vet’s Best Friend portfolio company, establishing Rarebreed as the leading veterinary services platform in the Northeast United States. Following the combination with Vet’s Best Friend, Rarebreed now operates 118 hospitals in 11 states, providing services spanning the full continuum of veterinary care, including general practice, urgent care, urgent care and specialty. With Revelstoke’s investment, Rarebreed is well capitalized to pursue future growth through acquisitions, new location openings and same-store sales, all with a focus on increasing access to quality veterinary care.
“We appreciate the significant support from a global limited liability investor base in Relvelstoke’s EPIC Fund series. We are enthusiastic about Rarebreed’s growth prospects and aim to become the leading veterinary services platform in the United States,” said Simon Bachledaco-founder and managing partner of Revelstoke.
Anthony Hayespartner of Revelstoke, added, “We are excited to continue to support Rarebreed’s mission to redefine the way veterinary medicine is delivered through exceptional patient care, exceptional customer service, and a continued focus on providing a differentiated experience for our veterinary staff.” partners.”
“Rarebreed has achieved significant growth over the years and we are excited about our plans as a diversified and technologically differentiated large-scale veterinary services platform,” said Dan Espinal, CEO of Rarebreed. “The capital from this new investment will be used to support our goal of accelerating our rapid growth through further acquisitions and opening new locations, as well as adding ancillary service lines to best serve our communities by providing of veterinary care to more patients.”
Houlihan Lokey Capital, Inc. and SVB Securities acted as financial advisors, and Simpson Thacher & Bartlett LLP, Winston & Strawn LLP and McGuireWoods LLP provided legal advice as part of the transaction.
Revelstoke is a private equity firm founded by experienced investors focused on building industry-leading companies in the healthcare services and health technology sectors. Revelstoke partners with entrepreneurs and management teams to execute a disciplined organic and acquisitive growth strategy while striving to build exceptional companies. Revelstoke is based in Denver, Colorado and there are approx 4.8 billion dollars of managed assets. Since the firm’s inception in 2013, Revelstoke has made 157 acquisitions, which include 25 platform companies and 132 add-on acquisitions. For more information visit www.revelstokecapital.com.
Rarebreed is a technology-enabled operator of veterinary practices with a mission to become the employer of choice in veterinary care, one partnership and one team member at a time. Rarebreed prides itself on building trusted, long-lasting relationships with our hospital partners to provide first-class patient care, world-class customer service and an unparalleled work experience. Rarebreed continues to build a broad network of practices that value healthcare teams by offering them the tools they need to grow, improve and redefine the veterinary experience. For more information visit www.rarebreedvet.com.
SOURCE Revelstoke Capital Partners