MBO of Pet Mate
HMT LLP advised Ethos Partners on the management buyout of UK based designer and manufacturer of pet products, Pet Mate Ltd.
Founded in 1986 by husband and wife Chris and Barbara Kirk, Pet Mate is a market leader in its pet product niche and has grown consistently at 15% per annum in recent years to over £2m EBITDA.
Under the brands of Cat Mate, Dog Mate and Fish Mate, the company has established a reputation (over 30 years) for designing and marketing unique and innovative ranges of patented pet products including pet doors, feeders, watering fountains, and pond filters.
Based in Walton-on-Thames, the company currently sells across UK, Western Europe, US and Australia.
The transaction was led by Ethos Partners, whose principals and HNW investor base provided equity funding to support the acquisition.
In partnering with CEO Andrew Lane, the buyout presents an opportunity for Pet Mate to continue to deliver ongoing product innovation in technology-led products and to drive domestic and international expansion.
HMT undertook financial due diligence on this transaction.
Scott Bannerman, Investment Director at Ethos commented:
Paul Read commented:
“We are delighted to have assisted Ethos on their investment to support the MBO of Pet Mate. The business has enjoyed consistent growth and a strengthening reputation with its household brands. With Ethos’ support, Pet Mate is well placed for continued growth in the UK, as well as on an international scale.”
We are passionate about delivering an optimal outcome for our clients and helping them achieve their personal objectives. We understand entrepreneurial businesses because we are one
Partners are supported by high-calibre professional staff who share our core values of enthusiasm, energy, entrepreneurialism and empathy to our client’s objectives
Our Partners have unparalleled deal experience in the mid-market and are supported by a team of dedicated deal-doers with specialist capabilities and experience