Revelstoke raises $376m in single-asset fund to back Rarebreed

• Based in Portland, Maine, Rarebreed is a technology-enabled operator of veterinary practices
• Houlihan Lokey Capital and SVB Securities acted as financial advisors
• Revelstoke invests in the healthcare services and healthcare technology sectors

Revelstoke Capital Partners has raised $376 million for its new single-asset fund that will support the growth of Rarebreed Veterinary Partners. Based in Portland, Maine, Rarebreed is a technology-enabled operator of veterinary practices.

Revelstoke recapitalized Rarebreed in December 2021.

Concurrently with the closing of Revelstoke EPIC Fund III, Rarebreed has closed its acquisition of Revelstoke portfolio company Vet’s Best Friend. As a result, Rarebreed now operates 118 hospitals in 11 states providing services spanning the full continuum of veterinary care, including general practice, urgent care, emergency and specialty.

“We appreciate the significant support from a global limited partner investor base in Revelstoke’s EPIC Fund series. We are enthusiastic about Rarebreed’s growth prospects and goal of becoming the leading veterinary services platform in the United States,” said Simon Bachleda, co-founder and managing partner of Revelstoke, in a statement.

Houlihan Lokey Capital, Inc. and SVB Securities acted as financial advisors and Simpson Thacher & Bartlett LLP, Winston & Strawn LLP and McGuireWoods LLP provided legal counsel as part of the transaction.

Revelstoke invests in the healthcare services and healthcare technology sectors. Based in Denver, Revelstoke has approximately $4.8 billion of assets under management. Since the firm’s inception in 2013, Revelstoke has completed 157 acquisitions, which includes 25 platform companies and 132 add-on acquisitions.