By Pet Age Staff//January 9, 2024//
Pet Care Provider Destination Pet Acquires Dog Daycare, Grooming Service Roscoe’s Bed + Bark
By: Pet Age Staff//January 9, 2024//
Press release: Madison Street Capital
Madison Street Capital, an international investment banking firm, served as exclusive advisor to Roscoe’s Bed + Bark on its sale to Destination Pet, a leading national pet care provider. Roscoe’s Bed + Bark is a dog daycare, boarding and grooming service provider. Charles Botchway, CEO of Madison Street Capital, announced that managing director James Cohen led the Madison Street Capital team. Terms of the transaction were not disclosed.
Founded in 2015 and based in Portland, Maine, Roscoe’s Bed + Bark has an excellent reputation offering 24/7/365 supervised dog daycare, sleepovers, and grooming services in its 13,300 sq ft facility, equipped with air conditioning, heat, and a high purification filter system including UV light purification, ensuring dog safety in extreme weather conditions. The father-daughter team started the business to give pet parents a less stressful, more transparent dog daycare option.
Ashley Caywood, co-founder of Roscoe’s Bed + Bark stated, “We initially engaged Madison Street Capital to perform a valuation for our business with the longer-term goal of taking the business to market. But the moment we began working with the MSC team, it was clear that they were smart, engaged, professional, and exactly the right team to help us sell. From valuation to due diligence to going to market, each step of the process was part of a well-oiled machine designed to make it easy for us to market and sell our business for optimal value. Ultimately, we’re confident that Madison Street’s work to leverage their network and create a bidding environment, their guidance to navigate the nuance of each offer, and their savvy leadership through the overall process led to us earning the maximum value on our business – with a quick and smooth timeline to closure. Overall, Madison Street Capital’s partnership exceeded our expectations, and we’re thrilled to have had them representing us through this transaction.”
James Cohen, managing director of Madison Street Capital, who led the engagement, commented: “Roscoe’s is a family run organization that has always put its customers and their pets first. Ashley and Adam built the business from the ground up while consistently maintaining best-in-class policies. Their strong customer relationships, operational leadership, and talented pet care team allowed the business to become a leader in their region and a true success story. The entire Madison Street team appreciates the partnership with Ashley and Adam and is excited to see Roscoe’s continuing to succeed and expand as a member of the Destination Pet family.”
Jennifer Strickland Fowler, CEO of Destination Pet, expressed her enthusiasm for the acquisition, stating, “We are incredibly excited to welcome Roscoe’s Bed + Bark employees into the Destination Pet pack. This addition of Roscoe’s Bed + Bark aligns with our commitment to elevating the lives of pet families across the nation and strengthens our position in the marketplace as a leading player in the pet care space. Roscoe’s outstanding reputation enhances our portfolio, and their commitment to exceeding the expectations of their pet families aligns with our own. Together, we will continue to raise the bar in pet care.”
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