Drayton Park Capital exits SPOT Canine Club
Drayton Park Capital is pleased to announce that it has successfully exited its investment in SPOT Canine Club (“SPOT”), the leading provider of pet care services in Manhattan.
The exit is the result of the purchase of the business by strategic acquirer AKC Pet Care LLC (“AKC”), a wholly owned subsidiary of the American Kennel Club (AKC®). The AKC recently opened its first dog care facility, AKC Canine Retreat, in the exclusive VIA 57 WEST building and saw SPOT’s premium pet care platform as a way to add instant scale. SPOT’s five retail and two on-site exclusive residential amenity locations in Manhattan will continue to offer daycare, boarding, training, walking and premium spa grooming and bathing services under SPOT Canine Club’s well-respected brand.
Drayton Park Capital provided flexible structured growth capital in October 2015 in order to support SPOT’s organic and acquisitive growth plan in addition to supporting the management in implementing a wide-ranging plan of operational and strategic improvements. These included the development of the senior management team, introduction of strong corporate governance and reporting, establishment of operational best practices, investment in IT, disposal of non-core operations and identification of new locations and acquisition targets. SPOT’s robust financial platform and corporate infrastructure now support seven New York City locations.
About Drayton Park Capital
Drayton Park Capital LP is an independent investment firm focused on investing opportunistically in lower mid-market companies headquartered in the United States. The firm provides flexible long-term turnaround and growth funding that is structured to meet the expectations of all stakeholders and provide appropriate risk-adjusted returns. For further information regarding Drayton Park Capital, please visit www.draytonparkcapital.com.
About SPOT Canine Club
SPOT Canine Club is New York’s premier and fastest-growing pet care services provider. Its unique dog care facilities offer best-in-industry care for every dog that is entrusted to it. Each facility offers an inclusive and supportive environment within a fun, friendly and fast-paced workplace. SPOT is guided by five business principles: ‘dogs come first’, ‘embrace positivity,’ ‘listen, learn, and share,’ ‘be a champion,’ and ‘have a ball.’ SPOT Canine Club currently has five retail and two on-site exclusive residential amenity locations in the New York metropolitan area. Services include stress-free daycare, cage-free overnights, salon-quality grooming, personalized walking, expert training, transportation, and premium retail. SPOT facilities feature webcams that allow owners to watch their dogs from a smartphone or computer. For further information regarding SPOT Canine Club, please visit www.spotcanineclub.com.
About the American Kennel Club
Founded in 1884, the American Kennel Club is a not-for-profit organization, which maintains the largest registry of purebred dogs in the world and oversees the sport of purebred dogs in the United States. The AKC is dedicated to upholding the integrity of its registry, promoting the sport of purebred dogs and breeding for type and function. Along with its more than 5,000 licensed and member clubs and its affiliated organizations, the AKC advocates for the purebred dog as a family companion, advances canine health and well-being, works to protect the rights of all dog owners and promotes responsible dog ownership. More than 22,000 competitions for AKC-registered purebred dogs are held under AKC rules and regulations each year including conformation, agility, obedience, rally, tracking, herding, lure coursing, coonhound events, hunt tests, field and earthdog tests. Affiliate AKC organizations include the AKC Humane Fund, AKC Canine Health Foundation, AKC Reunite and the AKC Museum of the Dog. For further information regarding the AKC, please visit www.akc.org.