The Spot Experience, a fast-growing New York pet services provider, announced that it has received a “significantˮ capital investment from Mistral Equity Partners, a consumer-focused private equity firm.
In connection with the investment, Jeffrey Ginsberg, managing director and operating partner at Mistral, will become the chief executive officer of Spot.
Founder and former CEO Mitch Marrow will transition to chairman of Spot. In his new role, Marrow will be focused on business development, strategic partnerships, and sales and marketing. Ginsberg will manage the operations and finances of the company.
“We are excited to have a value-added partner like Mistral as our partner — they bring not only capital to the table but resources as well,” said Marrow. “Jeff’s entrepreneurial success and managerial expertise will be a crucial asset to our company as we look to build a leading national brand.”
Ginsberg will continue in his role as a managing director and operating partner at Mistral in addition to his duties at Spot. “We have been focused on the pet industry for years, and the services sector is an area of tremendous growth,” said Andrew Heyer, managing partner of Mistral. “As a leader in this fragmented market, Spot has the opportunity to build something special.”
Prior to his current positions, Ginsberg was executive chairman of InfoHighway Communications, a telecommunications service provider, and CEO and co-founder of Eureka Broadband Corporation, its predecessor.
He previously served as chairman and co-founder of Apex Site Management. Both Eureka and Apex were businesses that forged strategic partnerships with real estate owners to deliver amenities and increase the value of their properties.
“We look forward to partnering with Mitch and his team to expand the operation and continue to deliver the same high quality, safe and convenient services that pet parents and their loved ones have come to expect from Spot,” stated Ginsberg.