Petplan, a Newtown Square, Pennsylvania, PA-based pet health insurance provider in North America, has been acquired by Warburg Pincus.
The financial terms of the transaction were not disclosed.
The acquisition will provide Petplan with access to capital and resources to drive growth.
Led by Paul Guyardo, CEO, Petplan provides pet health insurance subscriptions in the United States and Canada. The company accept pets of any age and not have broad exclusions for hereditary and chronic conditions. Policies are administered by Fetch Insurance Services, LLC (Fetch Insurance Agency, LLC in Michigan), d/b/a Petplan (Petplan Insurance Agency, LLC in California) and underwritten by XL Specialty Insurance Company in the U.S. and XL Specialty Insurance Company – Canadian Branch in Canada.
The company provides pet health insurance to over 200,000 customers in the U.S. and Canada.
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.