![]() ![]() Without the capital we provided, Best Friends would not have had the opportunity to become an ESOP.” ![]() “This is the perfect example of how our kind of firm can help to grow employee ownership. ![]() In doing so, they will benefit from one of the key advantages of an ESOP Trust owning the business: namely, that the business doesn’t pay income tax - leaving more cash to pay off the investors and reinvest in the business. Over the next five years, Mosaic will help the business to grow while the ESOP will use the company’s profits to pay off the loan. In the case of Best Friends, Mosaic used its ESOP expertise to help management set up an ESOP Trust and then raised the capital necessary for the ESOP to buy out the owners. Unlike traditional private equity firms, Mosaic focuses on ESOP deals, helping to fund and structure firm buyouts for the company’s employees. Mosaic is an employee-ownership focused private equity firm based in Charlotte, North Carolina, whose first fund manages over $164 million. That’s where Mosaic Capital Partners comes in. Since traditional ESOP transactions often require that sellers wait five to ten years to recoup the full cash value of the business, selling to the employees was an unlikely option. When the owners of the business decided that they wanted to sell the Pet Hotel, they sought out an all-cash buyer. It’s recent transition to employee ownership provides an interesting case study of the role of finance in these transactions. Every day, pet owners trust the devoted staff of Best Friends to care for their furry family members. Hotel Front Desk & Service Representatives – While they aren’t directly responsible for getting tails wagging, they play an important role in making guests happy by being available to pet parents and ensuring all bookings and Best Friends experiences are “just right” for every guest.Mosaic Capital Partners Leads Conversion to Employee Ownershipīest Friends Pet Hotel is a growing pet boarding, day care, grooming and training business, with 30 locations throughout the country. They are tasked with making each pet will feel at home and loved while their parents are away. Pet Groomers & Stylists – They make our guests look great and feel even better – whether it’s a haircut, bath and primping, or “the works!” They work with each pet parent and, through an initial consultation, discuss their pet’s personal grooming and styling needs.Īnimal Care Technicians – These folks provide care our overnight guests – whether furry, feathery, scaly or something else! They are responsible for feeding and attending to the needs of all of the pets in our care. They are trained to lead the pack and maintain balance within the day camp space. These are the types of roles at our centers:Ĭenter Manager – Our nurturing den leader(s), focused on delivering proper care to our guests and looking out for their health, well-being, comfort, and overall happiness.ĭoggy Day Camp Counselors – This crew watches our day camp dogs while they play with us. ![]() If that’s you, we’d love to have you join us. We hire pet (and people!) lovers who will gladly cuddle, play with, comfort and yes, clean up after our guests to give them a great experience while they’re away from home. Does it make you happy to make animals-and the owners who love them-happy? Then you’re a great fit for Best Friends. ![]()
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