Olympus Fetches Petmate After Dogged Effort to Purchase
STAMFORD, Conn., May 22, 2017 /PRNewswire/ -- Stamford, Connecticut-based Olympus Partners has acquired Petmate Holdings Co. ("Petmate"), a leading supplier of a wide variety of non-food pet products to leading retailers. The Company's diverse product line includes crates and carriers, outdoor shelters, feeding and watering, and a wide selection of innovative toys. The Company's portfolio of branded toys and licensed products includes ChuckIt!®, JW Pet®, and Jackson Galaxy® which lead the industry in innovative interactive products. Petmate serves the market through a multi-channel approach which includes big box pet retailers, mass merchandisers, major e-commerce retailers, farm and ag stores, and specialty pet stores. The Company designs, manufactures and distributes its diverse product offering from its facility in Arlington, Texas.
"Petmate is a highly attractive platform in the pet industry that is well positioned to capitalize on the industry's growth through multiple sales channels," said Paul Rubin, Partner at Olympus. Dave Cardenas, Partner at Olympus, added "We are excited to invest in the company and look forward to working alongside Alice Tillett and the rest of the talented management team. We will continue to support the company's history of growth through continued innovation as well as through strategic acquisitions."
Alice Tillett, CEO of Petmate, said, "We are happy to partner with Olympus and believe they are ideally positioned to support our next phase of growth and development. We look forward to working with them as we continue to focus on building out the leading pet products company and bringing innovative new ideas and products to our customers."
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including restaurants, consumer products, healthcare services, financial services, packaging and business services.
Olympus manages in excess of $5.5 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. The acquisition of Petmate marks Olympus' eighth investment out of its $2.3 billion sixth fund.
The Olympus team included Paul Rubin, Dave Cardenas, Matt Boyd, and Bohdan Tyshynsky. Olympus was represented by Benjamin Clinger and Matthew Goulding from Kirkland & Ellis.
SOURCE Olympus Partners
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