PELOTON CAPITAL MANAGEMENT INVESTS IN LAKEFIELD VETERINARY GROUP
TORONTO – July 15, 2024 – Lakefield Veterinary Group (Lakefield), a family-owned veterinary hospital and veterinary practice acquisition company, today announced a strategic minority investment by Peloton Capital Management (PCM), a Toronto, Canada-based private investment firm with a long-term investment philosophy. Lakefield will remain majority-owned by the Desmarais family with a continued focus on preserving the independence and local legacy of their veterinarian partners.
PCM’s strategic investment will further invigorate the firm’s disciplined M&A strategy, while continuing Lakefield’s mission of improving the lives of pets and contributing positively to the veterinary profession.
“We are excited to partner with Peloton who brings deep multi-site healthcare and veterinary expertise along with a collaborative, relationship-first approach to partnership that is consistent with our values and focus on a best-in-class veterinary culture,” said Alexandre Desmarais, Executive Chairman of Lakefield. “Together with Peloton, we are excited to enter the next phase of growth for our business while continuing to put pets first, provide exceptional care, and make positive contributions to the field of veterinary medicine,” said Mollie Hoff, CEO and Co-Founder of Lakefield.
“We have admired Lakefield for many years and are thrilled to have the opportunity to support this seasoned management team in achieving their long-term growth and expansion objectives while honouring the core values that have made Lakefield a preferred partner in the veterinary industry”, said Steve Faraone, Managing Partner at Peloton Capital Management. “The Peloton team looks forward to partnering with the Desmarais family and leveraging our experience in the veterinary industry to support management in further building out Lakefield’s regionally focused footprint of general, emergency, and specialty hospitals while exploring new markets and service opportunities.”
BofA Securities, Inc. acted as the exclusive financial advisor to Lakefield. Stoel Rives LLP and Goodmans LLP served as Lakefield’s legal counsel, while PCM was represented by Torys LLP.
About Lakefield Veterinary Group
Lakefield Veterinary Group is a family-owned veterinary hospital and veterinary practice acquisition company, preserving the independence and local legacy for veterinarians looking to sell their practice. Lakefield’s goal is to partner with successful hospitals without disrupting the unique characteristics that made them so successful. Lakefield has over 70 locations, each providing pets with compassionate veterinary care.
About Peloton Capital Management
Peloton Capital Management is a private investment firm that utilizes a long-term investment philosophy and sector-focused strategy to partner with founders and management teams to help build exceptional businesses and create attractive returns for investors. PCM has proven value-creation capabilities and deep expertise investing in multi-site services businesses primarily within the Healthcare, Financial and Consumer verticals in North America. Headquartered in Toronto, Canada, PCM currently manages over C$1.25B in invested and committed capital and has established successful partnerships with ten platform companies across Canada and the United States.