Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Cosmic Pet, a
portfolio company of Guardian Capital Partners (Guardian), on its
sale to Platinum Equity. Cosmic Pet, a leading designer, marketer
and distributor of pet products, including toys, beds, collars and
leashes, treats, feeders and bowls, and other accessories, will be
combined with Platinum Equity portfolio company Petmate. Petmate
manufactures, sources and markets a diverse product line that
includes plastic and wire pet kennels, dog houses, toys, food
storage, bedding, treats and chews, and other pet-related products
and accessories. The transaction was led by Ryan Budlong, John
Neuner, Zach England, Bernardo Villar and Jun Ye of the Harris
Williams Consumer Group.
“Cosmic Pet’s wide assortment of fun and innovative pet
products, as well as its commitment to quality and safety, has made
it a mainstay in the homes of millions of pet parents throughout
the country,” said Ryan Budlong, a managing director at Harris
Williams.
“The pet space has proven to be a strong and resilient sector,
with strong desire from investors seeking assets with secular
growth drivers such as Cosmic Pet,” added Zach England, a director
at Harris Williams. “It was a pleasure working with the teams at
Cosmic Pet, Guardian and Platinum Equity on this transaction, and
we look forward to watching Cosmic Pet continue to thrive as part
of the Petmate family.”
Founded in 1986 and headquartered in Wichita, Kansas, Cosmic Pet
is a leading innovator in pet toys, chews and treats. Cosmic Pet
goes to market with highly recognizable brands and has won multiple
industry awards for product development and design. In addition,
the company also designs and markets high quality pet hard-good
products and consumables across multiple channels under the
following brands: Hyper Pet, OurPet's, Pet Zone, Pet Fusion, Aussie
Naturals, Wild Eats, Pet Craft Supply Co, Ultra Paws, Mad Cat, Mega
Mutt and other private label brands.
Guardian is a private equity firm based in suburban Philadelphia
that invests in lower-middle market consumer products, niche
manufacturing and specialty service companies. Guardian partners
with management teams to provide equity capital to fuel the growth
of family-owned businesses. The private equity experience and
complementary skill sets of the Guardian team provide a unique
combination of operating and finance capabilities resulting in
certainty of execution and meaningful long-term value creation for
its portfolio companies.
Founded in 1995 by Tom Gores, Platinum Equity is a global
investment firm with more than $25 billion of assets under
management and a portfolio of approximately 50 operating companies
that serve customers around the world. The firm is currently
investing from Platinum Equity Capital Partners V, a $10 billion
global buyout fund, and Platinum Equity Small Cap Fund, a $1.5
billion buyout fund focused on investment opportunities in the
lower-middle market. Platinum Equity specializes in mergers,
acquisitions and operations – a trademarked strategy it calls
M&A&O – acquiring and operating companies in a broad range
of business markets, including manufacturing, distribution,
transportation and logistics, equipment rental, metals services,
media and entertainment, technology, telecommunications, and other
industries. Over the past 25 years Platinum Equity has completed
more than 300 acquisitions.
Founded in 1959 as Doskocil Manufacturing, Inc., Petmate,
headquartered in Arlington, Texas, is passionate about providing
fun, trusted quality products worldwide to enhance the lives of
pets and their families. The company's vision, to be the worldwide
leader of solutions and excellence in the pet industry,
encapsulates its commitment to deliver award-winning, innovative
ideas daily to each of its product categories including bedding,
kennels, dog houses, feeding and watering products, litter
maintenance products, toys, collars, leads, travel, and more.
Petmate's portfolio of pet, family-favorite brands include
Chuckit!, Pet Qwerks, Healthy Chews, Gamma2, JW and La-Z-Boy.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Consumer Group has completed transactions
across a variety of verticals, including branded consumer products;
consumer services; food, beverage and agribusiness; and restaurant
and retail. For more information on the Harris Williams Consumer
Group and recent transactions, visit the Consumer Group’s section
of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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version on businesswire.com: https://www.businesswire.com/news/home/20211028005863/en/
For media inquiries: Julia Moore media@harriswilliams.com
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