Dane Creek Capital Wants to Fund Pet Industry Business
Dane Creek Capital Corp. (DCCC) in Mississauga, Ontario, Canada, announced its intent to partner with new pet industry companies seeking fresh sources of funding and expert management support. Established by pet industry veterans Mark Warren and Glen Tennison, the new merchant banking venture expects to close on up to three investments by end of 2016.
DCCC’s primary focus is on up-and-coming companies serving the companion animal industry that currently generate annual revenue between $1 million and $5 million and need additional financing and management support to expand their operations, the company stated. The company also said it will fund pure startups in new market opportunities that have yet to be fulfilled.
“The pet industry has long been an exciting marketplace for new ideas and financial opportunities,” said Warren. “I have had the great fortune to experience this firsthand in my own endeavors and through Dane Creek Capital, I look forward to assisting other entrepreneurs take their businesses to new levels.”
Warren and Tennison together have more than 30 years of business experience in the pet industry. Warren is the founder and former president and CEO of Pethealth Inc., which he formed in 1998. Under his leadership, Pethealth became the world’s largest provider of companion animal microchip technology, and a leading provider of pet insurance, cloud-based software and online pet specialty retail to pet owners, veterinarians and animal welfare organizations throughout North America and the U.K., said DCCC in a statement.
Tennison, CFO at Pethealth from its creation in 1998 until it was sold, led Pethealth’s acquisitions, including that of Nestlé Purina’s pet insurance business, PurinaCare; the acquisition of Domestic and General Group Limited’s U.K. pet insurance provider, Pet Protect Ltd.; and the acquisition of VetMedsDirect.co.uk, an online retailer of pet specialty products.
“Reliable growth in the pet sector makes it the ideal place for new investments and our hands-on experience in a variety of pet industry categories, both B2B and B2C, makes Dane Creek Capital the ideal business partner for developing pet product and service companies,” said Tennison.
Within the companion animal market, DCCC said its initial focus will be on investment opportunities in pet food and treats derived from novel proteins, fresh food waste, sustainable sources, alternative models for veterinary care, bio-technology, pet insurance, pet hotels and technology applications for pet owners.
Companies interested in working with DCCC should contact Tennison at firstname.lastname@example.org or (905) 581-7412.