Ethos acquires Pet Mate

The firm offers equity tickets of £3-10m, funded on a deal-by-deal basis. Unquote understands the entry multiple for the company was 4-8x EBITDA.

The founder/owners, Barbara and Peter Kirk, have stepped down from operations, but have retained a significant share of the business. Andrew Lane, who has been leading the company since March 2019, also owns a stake.

The company plans to expand both domestically and internationally following the transaction.

Senior debt was provided by Shawbrook Financial Sponsors.

Company
Pet Mate is a manufacturer and distributor of pet products for cats, dogs and fish. Headquartered in Walton-on-Thames, the company operates an office in Houston, Texas, and sells its products in the UK, western Europe, the US and Australia. Founded in 1986, the company now generates EBITDA of more than £2m and employs almost 50 people.

People
Ethos Partners – Julian Carr (CEO).
Pet Mate – Andrew Lane (CEO).

Advisers
Equity – HMT Corporate Finance (corporate finance); Latitude Consulting (commercial due diligence); Spectrum Corporate Finance (debt advisory); Confidas People (management due diligence); Harrison Clark Rickerbys (legal).
Vendor – KBS Corporate Finance (corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom