Liberty Mutual Investments, the investment firm for Liberty Mutual Group, said it has provided debt financing to Synergy Pet Group to support the company’s continued pet services and technology expansion.
Synergy Pet Group, based in Lakewood, New Jersey, is backed by LoneTree Capital, which made a growth investment in the company in 2023. LMI also invested in Synergy in 2023 alongside LoneTree.
Synergy Pet Group offers a range of pet services and technology for pet owners, employers, brokers, and veterinary practices. Through its Wishbone family of brands, (Total Pet, Insurance and Wellness), the company provides pet-related employee benefits, pet insurance programs, and other services designed to make pet care more accessible and affordable. Synergy has expanded into veterinary technology through Shepherd Veterinary Solutions, a veterinary practice management system.
“This financing gives us the flexibility to invest in our businesses while staying focused on execution,” said Charles Nebenzahl, CEO of Synergy Pet Group.
“Synergy Pet Group has built an exceptional platform at the center of the growing pet care economy, combining its market-leading pet benefits business with an innovative veterinary technology offering in Shepherd,” said Alex Kayvanfar, head of Capital Solutions at LMI.
LMI invests approximately $130 billion of long-term capital on behalf of Liberty through its investment platform.
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