Pet Mate Ltd - KBS Corporate

Pet Mate Ltd, the UK-based designer, manufacturer and distributor of innovative pet products for cats, dogs and fish has customers throughout Europe and the United States, has been acquired in a multi-million deal by private investment office, Ethos Partners LLP.

Pet Mate operates within the UK from its head office in Hersham, Surrey, and in the US from its offices near Houston, Texas. Under the brands of Cat mate, Dog mate, Fish mate and trading as Ani Mate in the US, the company has established a reputation for designing and marketing unique and innovative ranges of patented pet products for over 30 years. The global pet care market size was estimated at $131.7 billion in 2016 and is expected to grow with CAGR of 4.9% from 2016 to 2025, reaching $202.6 billion by 2025. Online retail within the sector is growing even faster, US Online sales are expected to grow at a 17% CAGR from 2016 to 2022.

KBS Corporate Finance advised Pet mate on the sale, introducing executive recruiters to bring on board a new Managing Director in preparation of the exit of Pet Mate’s founders, garnering interest from trade buyers and Private Equity firms across Europe and the USA.

Given current market dynamics, interest was extremely strong and the investment from London-based Ethos Partners will allow the business to continue its strategic growth, providing a platform for the new Managing Director to rapidly expand operations.

The founders of Pet Mate will now step down from day-to-day operations, whilst maintaining a significant share within the business as part of the sale.

Julian Coy and Mughees Saleem, of KBS Corporate Finance, advised Pet Mate on the sale. Julian commented: “Pet Mate is a wonderful, global business operating in a great consumer sector. What was important was preparing the business so that the founders could retire away post transaction, retain a carried interest and maximise the overall value; it became apparent that Private Equity was the most appropriate vehicle to meet those requirements.”


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