New York, US; Baar-Zug, Switzerland; July 2, 2019
Partners Group, the global private markets investment manager, has agreed to make a significant equity investment on behalf of its clients in Blue River PetCare ("Blue River" or "the Company"), a US-based operator of veterinary hospitals for companion animals. Blue River's founders will continue to hold a sizeable equity stake following the transaction.
Founded in 2009 and headquartered in Chicago, Illinois, Blue River is a leading operator of veterinary hospitals caring for household pets, managing a network of over 90 general practice hospitals and over 300 veterinarians across 23 states in the US. Blue River's unique operational model allows for high-levels of clinical autonomy.
Following the investment, Partners Group will work closely with Blue River's management team, led by CEO Dan Blumenthal, on strategic initiatives to support ongoing organic and acquisitive growth. Key areas of focus for these initiatives will include implementing best-in-class customer engagement, continuing the emphasis on clinical excellence, and pursuing M&A partnership opportunities.
Dan Blumenthal, CEO, Blue River, notes: "Since its inception, Blue River has operated as a founder-run business, aiming to preserve the legacy that our veterinarians have worked so hard to establish in their communities, and we are extremely proud of the unique culture we have built and of the great care that our hospitals provide to our patients and customers. We are very excited to be welcoming Partners Group as a value-added partner to our business and look forward to building on our reputation as an employer of choice for leading veterinarians across the US."
Chris Russell, Managing Director, Private Equity Directs Americas, Partners Group, states: "Blue River is a well-established brand in a resilient industry, supported by a highly-capable management team. The Company is uniquely positioned to capitalize on the attractive opportunity in the veterinary sector, which is highly-fragmented and benefits from favorable market tailwinds driving overall growth. We are excited to bring our experience and operational capabilities into partnership with Blue River's talented management team in order to create value and long-term growth for all stakeholders."