Case Study:

BluePearl Veterinary Services

“In a short time, Summit helped us improve our referral network and accelerate our practice acquisition pace. Together, we achieved much more than we thought possible.”

Darryl Shaw BluePearl Veterinary Services

Darryl Shaw, Founder and CEO

Tampa, FL

Darryl Shaw
Neil Shaw
Andy Anderson

Founded in:
invested in:

Acquired by Mars Petcare 2015

Case Study:

BluePearl Veterinary Services

Specialty and emergency medicine for pets

Added more than 20 facilities via acquisition

Increased EBITDA by more than 100% from 2013 to 2015

Grew headcount to more than 3,000 employees

Acquired by Mars Petcare in 2015

BluePearl Veterinary Partners was formed in 2008 by brothers Darryl Shaw and Dr. Neil Shaw after merging their Tampa- and New York-based specialty veterinary hospitals with an existing specialty and emergency hospital in Kansas. Over the next several years, BluePearl continued to expand its operations, acquiring independent veterinarian-led specialty and emergency practices while maintaining a strong standard of care and great service to their referral base of primary care veterinarians. As rising pet ownership presented an opportunity for further growth, BluePearl’s management chose Summit to help increase referral volume, accelerate the company's acquisition pace and provide liquidity to existing shareholders.

How Summit helped:

  • Led a minority investment in 2014
  • Provided strategic support in sourcing, evaluating and closing acquisitions
  • Summit’s Capital Markets Team helped raise a $100 million revolving credit line to facilitate the company’s acquisition pace
  • Summit’s Peak Performance Group worked closely with management to improve the onboarding process for newly acquired facilities and to enhance the productivity of the company’s referral network
  • Offered significant support in the company’s sale process to Mars Petcare, including strategic negotiation support and financial analysis

By 2015, BluePearl had grown to 55 facilities in 18 states, employing more than 2,500 individuals across its network. The company attracted the attention of Mars Petcare, a subsidiary of Mars, Inc., which approached BluePearl to form the foundation of its global expansion strategy in the specialty and emergency veterinary market. Today, BluePearl operates as an independent subsidiary of Mars Petcare and continues its commitment to comprehensive, compassionate veterinary care.

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