Innovative Consumer Business Sold To Private Equity Firm
The Corporate team at Irwin Mitchell has advised on the sale of Pet Mate Ltd, the UK-based designer, manufacturer and distributor of innovative pet products, to Ethos Partners LLP.
Founded in 1986 by husband and wife Chris and Barbara Kirk, Pet Mate operates under the brands of Cat Mate, Dog Mate and Fish Mate. Its headquarters are in Walton-on-Thames and the company currently sells across the UK, Western Europe, US and Australia.
The transaction was led by Ethos Partners and senior debt was provided by Shawbrook Financial Sponsors.
Dan Bastide and Matt Smith from Irwin Mitchell’s Corporate team acted for the shareholders of Pet Mate on the transaction.
Expert Opinion“The pet products market is a fast-growing part of the consumer sector and Pet Mate has for over 30 years grown here and abroad to be recognised as one of the leading and most innovative players. We have been delighted to work with Chris and Barbara on the transaction and I look forward to seeing the business continue to flourish in the future.” Daniel Bastide - Partner
Ethos will partner with new Pet Mate CEO, Andrew Lane, and continue to deliver ongoing product innovation in technology-led products and to drive domestic and international expansion.
Andrew Lane, CEO, said: ‘I am delighted that Ethos has invested in Pet Mate to pursue our growth strategy over the next few years. Having worked closely with Ethos over the last few months, I know they share the same level of ambition as me and the wider management team.’
Julian Carr, CEO at Ethos, commented: “Pet products is a very attractive market with the ‘humanisation’ of pets and Chris and Barbara have successfully built a market leader in their niche. We look forward to working with Andrew and the wider management team to help deliver the next stage of growth in an attractive and growing sector and we are delighted to have given our private investors the opportunity to participate in an exciting journey.”