ECI backs pet food producer MPM
UK-based lower-mid-market GP ECI Partners has invested in British premium pet food manufacturer MPM.
The deal saw ECI take a majority stake in MPM alongside the company's management team.
With the fresh capital in hand, the company will finance its continued international expansion and goal of taking additional market share in the £50bn-a-year global pet food market.
A debt package was provided by HSBC.
Company
Headquartered in Macclesfield, in northern England, MPM is a producer of pet food for the premium market.
The company also produces walnut-shell-based cat litter and claims to have grown revenue by around 25% per annum in recent year, with projected revenue of £50m in the 2016 financial year.
MPM's products are available in 33 countries, with the UK making up less than 40% of total revenue.
People
ECI Partners – Mark Keeley (partner).
MPM – Julian Bambridge (CEO); James Bracewell (CFO).
Advisers
Equity – KPMG (financial due diligence).
Management – PwC (corporate finance).
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