Carvalho, Inês Lopo deBernardo, António MiguelBrugger, Yannick2025-08-112025-08-112025-01-142024-12-17http://hdl.handle.net/10362/186284The European pet care market, encompassing pet food, accessories, and veterinary services, has grown significantly to £69bn, with macroeconomic and market trends indicating sustained expansion. This paper evaluates the strategic attractiveness of a private equity investment in Pets at Home (PaH), a leading player in the sector. It outlines five key value creation levers, supported by detailed financial projections, operational enhancements, and a comprehensive LBO model. The analysis concludes with a well-defined exit strategy via IPO. Thereafter, the commercials of the underlying market are explored in depth.engPrivate equityInvestment Committee Paper (ICP)LBOPets at HomeMarket assessmentVeterinaryPet retailValue creationmaster thesis203961820