Fulcrum Equity Partners, an Atlanta-based growth equity fund, has made an investment in a local veterinary medicine platform.
My Pet's Vet Group has received a $5.5 million Series A investment from the firm. My Pet’s Vet Group is headquartered in Pelham and has animal hospital locations in Buford, Georgia; Kennesaw, Georgia; Mason, Ohio and San Antonio.
According to Fulcrum Equity Partners, the investment will be used to further accelerate de novo growth and strategic mergers and acquisitions into contiguous markets across the Southeast.
“We’re pleased to partner with Fulcrum Equity Partners, which has a long track record of helping companies like ours successfully grow and scale their multi-site health care businesses,” said Bob Singleton, founder and CEO of My Pet’s Vet Group. “With the support of Fulcrum’s deep operational and financial resources, we look forward to expanding our network of veterinarian hospitals and accelerating growth across our core geographies.”
Fulcrum also noted that the veterinary services industry is in a strong position, as almost one in five households acquired a cat or dog since the beginning of the pandemic. Because of an increasing number of pet owners, an upswing in demand for pet care also grown. According to the American Pet Products Association, an estimated $109.6 billion was spent in 2021 on pets across the U.S.
“We have been deeply impressed by My Pet's Vet Group’s management team, culture, commitment to clinical excellence and track record of developing and acquiring top tier practices,” said Chad Hooker, principal at Fulcrum Equity Partners. “We are thrilled to support this next phase of growth and leverage our health care expertise to support the My Pet's Vet Group team as they further scale the business.”
