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Teija Heikkila
President of PET | VET M&A, Sales & Advisory
Teija Heikkilä is the founder, CEO, and Principal Broker of PET|VET M&A, Sales & Advisory, a premier brokerage and advisory firm specializing in the pet care industry.13 She has been a trailblazer in the pet care sector since 1990 when she opened the first dog daycare in the United States.1
Career Highlights
Heikkilä founded PET|VET M&A, Sales & Advisory (formerly National Kennel Sales & Appraisals) in 2007.12 With over 30 years of experience in the pet care industry, she has personally owned, operated, and sold several pet care facilities.1 This hands-on experience has given her invaluable insight into the unique needs and challenges faced by pet industry business owners.2
Expertise and Achievements
Teija Heikkilä is highly accredited in her field, holding the following designations:
- Certified M&A Professional (CM&AP)
- Merger & Acquisition Master Intermediary (M&AMI)
- Licensed Real Estate Broker in over twenty states12
Under her leadership, PET|VET M&A has achieved an impressive 96% closing rate on its deals, securing transaction values 20% higher than those managed by FSBO and generic brokers.3
Industry Impact
Heikkilä is recognized as an industry expert and is frequently invited to speak at industry events. She was a featured speaker at the Barkleigh Pet Boarding and Daycare Expo West in Las Vegas.3 Her company, PET|VET M&A, has facilitated the sale of over 200 pet care facilities, totaling more than $450 million in transaction volume.4
Personal Background
Originally from Finland, Teija Heikkilä has lived in the United States for over thirty years. In her free time, she enjoys spending time with her four dogs in the Colorado mountains, deep-sea diving in the Caribbean, and traveling.1
Highlights
Hi folks, I trust this year has started well for you all. I wanted to take a moment to briefly look back and then look forward to what we can expect this year.
It turns out 2023 was definitely the (smart) seller’s market we had been predicting:
- Several new PE firms entered the market.
- The “mystery Illness" media coverage hurt most pet care facilities, leading to lowered annual revenues than anticipated.
- PET VET broke multiplier records with our unique structured process (ask me more about this!).
- We also broke volume records, and sold over $70MM worth of pet resorts.
So what is ahead in 2024?
- PE parameters have tightened both in revenue minimums, EBITDA margins, location and management structure.
- This means sellers need to be smart about getting exposure to several buyers to maximize pricing and increase their chances of selling well.
- Land use / zoning issues continue to be one of the top reasons businesses can’t sell. We clear those issues before your property goes on the market.
- 2024 will be the year for premium assets and multi sites to get on the market and realize top multipliers when professionally presented.
- Individual facilities will experience continued competitive pressure from corporate-owned facilities and Rover dot com
- Consumer spending is expected to lessen, so business owners and managers will need to maintain tight expense controls in order to sustain valuations.
If your pet resort is a multi-site property, or has revenue of over $1MM, below is a link to information on a special opportunity that won't be around forever. If you have any thought of selling in 2024, get in touch earlier rather than later. The plan leading up to the sale is very important for you to maximize the outcome and, as you know, we maintain strict confidentiality.
Wishing you a great year! Teija
Anyone who has sold their business will tell you deal-making is not easy. There are many things in the process that can derail a deal, some foreseen and some purely coincidental. I won a national deal-making award last month, and there have been some other honors too in the past couple of years. There's a certain level of discomfort talking about it because bragging is not me. Creating success for as many pet resort owners as I can, however, is definitely me and brings huge satisfaction. These awards are usually given to generalist business brokers, so the fact that PET|VET M&A, Sales & Advisory is winning them is part of the bigger picture of what is happening in the sector - reflective of phenomenal investment in the industry and more pet resort owners reaching out for more options when selling, rather than just taking the first offer presented. Thank you to my customers for trusting me and my team with your most valuable asset.
Having said all that, there are some unique opportunities right now for pet resorts making over $2M in revenue. These are deal structures which provide opportunities for ongoing, life altering wealth.
If you want to know more, you know where to find me :)
