Trivest Partners and Queens Court Capital Management Announce Formation of Pet Resort Hospitality Group, a Platform in the Pet Services Industry

Trivest Partners and Queens Court Capital Management Announce Formation of Pet Resort Hospitality Group, a Platform in the Pet Services Industry

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MIAMI — Trivest Partners (“Trivest”) announces the formation of Pet Resort Hospitality Group (“PRHG” or the “Company”), 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. Trivest’s investment will come 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. PRHG is Trivest Discovery Fund II’s 2nd platform investment.

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The announcement follows PRHG’s acquisition of Play All Day (“PAD”), a five-location pet resort across New Hampshire and Massachusetts providing daycare, boarding, grooming, and dog bath services. Amanda Field, who founded PAD in 2007, will continue to operate the business while helping PRHG greenfield new locations across the Northeast. PRHG will serve as the umbrella for the platform with each acquired business retaining its brand equity in its served market.

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Queens Court Capital Management (“Queens Court”), led by Azhar Quader, co-founded, architected and co-invested in PRHG alongside Trivest. Quader is an experienced private equity professional with a history of successful investments across various end-markets, including the pet care services space. Quader reunited with Eyal Cohen, Co-Founder of PRHG, on launching the strategy to build a nationwide platform. Quader and Cohen recently exited a successful investment in the pet care services space.

“We believe that PRHG has the opportunity to become a scaled platform with several best-in-class brands across multiple markets. There are over 128,000 similar businesses in the United States amounting to a total annual spend of $9 billion in pet boarding, grooming, and day care services. We are confident that our deep industry experience and expertise in rapidly scaling businesses through acquisitions will help us be successful growing PRHG to its full potential. We are excited to bring data-driven decision making and improvements across financial and operational playbooks into this end market. It has been a pleasure getting to know Amanda, and we are excited to embark on this journey together alongside Play All Day and Trivest.” said Quader, who will also serve as Executive Chairman of PRHG.

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“I’m proud to partner with Queens Court and Trivest Partners in building a new platform in the pet resort and hospitality space. We are building the very best pet hospitality business in the industry and plan to be a home for many owners like Amanda. We will nurture a collaborative and familial culture by empowering employees, investing in their personal well-being, and creating the best culture in the pet services industry” said Cohen, who will serve as Chief Development Officer.

“PRHG represents a unique opportunity for Trivest to partner with a talented and experienced leadership team to build a leading, full-suite pet services platform. Trivest’s strategy of partnering with and growing founder and family-owned businesses in fragmented industries is well-aligned with PRHG. We plan to leverage Trivest’s deep consumer services experience to help PRHG become one of the leading pet services companies, while preserving the lasting legacies and established brands that founders have built,” added Brian Connell, Partner at Trivest.

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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 multi-unit pet services businesses throughout the United States. To learn more, visit www.petresorts.love.

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About Trivest

Founded in 1981, Trivest Partners is one of the oldest private investment firms in the United States. For over four decades, Trivest has built its entire business model around helping founder-owned businesses transition and realize a long-term future as successful independent companies. Over its history, the firm has completed nearly 500 transactions, totaling almost $8 billion in value. 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 $100 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230418005464/en/

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Contacts

Herby Raymond
hraymond@trivest.com
(305) 858-2200

Azhar Quader
azhar@queenscourtcap.com
(914) 217-5726

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