Liberty Mutual Investments Backs Synergy Pet Group with New Debt Financing to Fuel Expansion

Liberty Mutual Investments, the premier investment arm managing the financial assets of Liberty Mutual Group, has announced that it has provided strategic debt financing to Synergy Pet Group

. The infusion of capital is earmarked to support the rapidly growing pet services and technology enterprise as it advances its ongoing expansion initiatives across the pet care and veterinary sectors.

Based in Lakewood, New Jersey, Synergy Pet Group has experienced a steady trajectory of growth, bolstered by the backing of LoneTree Capital. LoneTree Capital previously executed a strategic growth investment in the company in 2023, marking a turning point in Synergy’s corporate development. The relationship between the investing entities is well-established; Liberty Mutual Investments also participated in an investment round for Synergy in 2023, standing alongside LoneTree Capital to support the company’s foundational vision and initial scaling phase.

Synergy Pet Group operates at the intersection of consumer services and specialized business technology, offering a comprehensive suite of pet-related services and digital solutions. Its offerings are tailored to a diverse audience, serving individual pet owners, corporate employers, insurance brokers, and veterinary practices alike. Through its well-known Wishbone family of brands—which encompasses Total Pet, Insurance, and Wellness—the company delivers specialized pet-related employee benefits, structured pet insurance programs, and a variety of complementary services designed to make comprehensive pet care significantly more accessible and affordable for families and professionals.

Beyond consumer-facing benefits and wellness programs, Synergy has strategically expanded its footprint into the realm of veterinary technology. This expansion is anchored by Shepherd Veterinary Solutions, a sophisticated veterinary practice management system designed to streamline clinical workflows, optimize practice operations, and enhance the standard of care delivered by modern veterinary professionals.

The newly secured debt financing arrives at a pivotal juncture for the company as it seeks to scale its operational capabilities and deepen its market presence. Charles Nebenzahl, Chief Executive Officer of Synergy Pet Group, highlighted the strategic value of the financial backing in supporting the company’s long-term objectives.

"This financing gives us the flexibility to invest in our businesses while staying focused on execution," said Charles Nebenzahl, CEO of Synergy Pet Group.

The investment underscores a growing institutional interest in the broader pet care economy, a sector that has demonstrated remarkable resilience and sustained consumer demand in recent years. Financial institutions and private equity firms have increasingly turned their attention to companies that integrate traditional pet services with innovative technological solutions, creating cohesive ecosystems that cater to both pet parents and veterinary care providers.

Alex Kayvanfar, head of Capital Solutions at Liberty Mutual Investments, pointed to the strength and uniqueness of Synergy’s operational model as a primary driver for the continued partnership and debt financing commitment.

"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.

Liberty Mutual Investments operates as a major institutional investor, managing approximately $130 billion of long-term capital on behalf of Liberty Mutual Group through its robust investment platform. The firm engages in diverse asset classes, providing strategic capital solutions to support the growth and financial stability of companies operating in dynamic and expanding market sectors. With this latest commitment to Synergy Pet Group, LMI reinforces its ongoing strategy of deploying patient capital into well-positioned businesses that demonstrate strong market fundamentals and clear avenues for scalable growth.