Rarebreed Veterinary Partners Closes New Round of Financing Led by Existing Investors Halle Capital Management and Trilantic North America
Rarebreed Veterinary Partners ("Rarebreed" or the "Company"), a technology-enabled veterinary services platform, announced today that it has closed a new round of financing, led by existing investors Halle Capital Management and Trilantic North America, both leading private equity firms. The investment will be used to support Rarebreed's continued growth through the acquisition of additional veterinary hospitals and enhancements to the services it provides to the healthcare teams within its network.
Rarebreed partners with veterinary clinics to deliver best-in-class tools and solutions that enable employees to focus on providing the highest quality patient care. Established in 2018, the Company currently employs 800 people across 33 clinics in the Northeast, approximately doubling its footprint from the time of the company's prior capital raise led by Trilantic North America in September of 2020.
"At Rarebreed, we are passionate about taking care of the people who take care of animals," said Dan Espinal, CEO of Rarebreed Veterinary Partners. "We are excited to announce this new round of funding, which will allow us to continue providing an exceptional work experience for animal healthcare professionals in our network, while expanding our platform to reach even more people who have dedicated their professional lives to veterinary care."
"Our goal is to allow veterinary professionals to focus on operating at the top of their profession while Rarebreed takes care of the rest," said Sean Miller, COO of Rarebreed Veterinary Partners. "We believe this makes a significant difference not only for our patients, but also the employees within our network."
Espinal and Miller retain meaningful equity stakes in the business and will continue to lead the Company through its next phase of growth.
"Dan and Sean's leadership has been instrumental to Rarebreed's rapid growth over the past three years," said JP Gutfreund, Managing Partner at Halle Capital Management. "We have been thrilled to be part of the company's journey and look forward to supporting its continued expansion as it seeks to improve the work experience for veterinary professionals across the country."
"The Rarebreed team continues to impress us with the execution on its strategy and support of its partners in a high-growth environment," said Jamie Manges, Partner at Trilantic North America.
"We are enthusiastic to support the team with additional capital to continue investing to address the rising tide of demand for animal healthcare services," added Ted Rosenwasser, Principal at Trilantic North America.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP provided legal advice to Rarebreed in the transaction.
May 13, 2021
Rarebreed Veterinary Partners is a thriving community of veterinary hospitals in the Northeast that values healthcare teams and provides superior medical and compassionate care to pets. Rarebreed creates exceptional work experiences, one partnership at a time, and believes when healthcare teams thrive, economic and emotional wellbeing prosper. As a result, clients and pets receive the veterinary experience they expect and deserve. The Rarebreed goal is to become the employer of choice for those dedicating their professional lives to veterinary care. Rarebreed accomplishes this through innovation and industry-leading benefits, including equity buy-in, outsized parental leave, pet medical benefits, and best-in-class healthcare benefits. Rarebreed invests in business operations and a technology backend that provides deep analytics into practices.
About Rarebreed Veterinary Partners
Halle Capital Management is a New York-based growth equity-focused investment firm that provides capital and strategic guidance to companies in the healthcare, consumer, and business services sectors. We leverage our extensive experience, robust professional network, collaborative mindset, and deep understanding of growth drivers to partner with mission-driven management teams. For more information, please visit www.hallecapital.com.
About Halle Capital Management
Trilantic Capital Management L.P. ("Trilantic North America") is a leading, growth-focused, middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America's primary investment focus is in the business services, consumer, and energy sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion. Trilantic North America has been recognized by Inc. Magazine's 2019 list of Top 50 Founder-Friendly Private Equity Firms. For more information, visit www.trilanticnorthamerica.com.
About Trilantic North America