PetSmart Inc. is the largest pet supply company (by store count) in North America, operating a chain of pet superstores and an e-commerce platform. PetSmart offers more pet services and products than any other pet specialty retailer. Many of their locations offer in-store pet services such as grooming, dog training, daycare and boarding, veterinary care, and adoption centers. The chain opened its first two stores in Phoenix, Arizona under the name PetFood Warehouse in 1987. A decade later, they operated nearly 300 stores in the United States and expanded into Canada with eight stores. From 2002-2009, PetSmart opened an average of 100 new stores per year. In 2015, a private equity consortium led by BC Partners acquired the company for $8.7B. In 2017, the chain purchased Chewy, a popular pet e-commerce site, for $3.35B. In the financial year of 2020/2021, PetSmart reported close to $7B in U.S. revenue. At the end of 2023, PetSmart operated more than 1,660 stores (140+ in Canada) and 7 fulfillment centers, employing approximately 50,000 associates. PetSmart has an S&P rating of B+ and a long-term Moody’s rating of B1. They remain headquartered in Phoenix, AZ.

BC Partners is one of the largest European private equity firms. Leveraging buyouts and investment opportunities across the globe, BC Partners has made 126 investments in 18 countries. The firm was founded in 1986 as Baring Capital Investors Ltd. and was renamed BC Partners in 1995. They employ nearly 200 people and have $40B of assets under management across private equity, credit, and real estate in Europe and North America. BC Partners is headquartered in London, England.