Petplan acquired by Warburg Pincus

Petplan, a pet health insurance provider in North America, announced that the company has been acquired by Warburg Pincus, a global private equity firm focused on growth investing. The acquisition will provide Petplan with access to significant capital and resources to drive meaningful growth. Financial terms of the transaction were not disclosed.

Petplan, headquartered in Newtown Square, Pennsylvania, provides pet health insurance to over 200,000 customers in the U.S. and Canada. Under the leadership of CEO, Paul Guyardo, Petplan has experienced substantial growth, including the recent milestone of reaching 200,000 active subscribers. In the past year, total Petplan subscriptions have grown by nearly 15 percent – the fastest and most significant growth since 2015.

“This investment is a game changer for Petplan. It enables us to catapult the product innovation and customer experience that our company was founded upon and introduce the very best pet health insurance to millions of pet parents in North America,” said Paul Guyardo, CEO, Petplan. “We’re thrilled to be working with Warburg Pincus and the multitude of resources the firm provides.”

“As a long-term investor in the insurance sector, we see incredible potential in Petplan given its leading position in an underpenetrated and growing market,” said Jeff Stein, Managing Director, Warburg Pincus. “We are excited to partner with Paul and his management team to help drive the Company’s next phase of growth.”

As part of the acquisition, John Giannuzzi will join as Chairman of the Board for Petplan. Mr. Giannuzzi is the Co-Founder and Managing General Partner of Sherbrooke Capital, a growth capital private equity firm focused on investing in emerging consumer companies.