M&A Deal Summary

Platinum Equity Acquires Petmate

On September 15, 2021, private equity firm Platinum Equity acquired consumer products company Petmate from Olympus Partners and Ethos Partners

Acquisition Highlights
  • This is Platinum Equity’s 4th transaction in the Consumer Products sector.
  • This is Platinum Equity’s 103rd transaction in the United States.
  • This is Platinum Equity’s 7th transaction in Texas.

M&A Deal Summary
Date 2021-09-15
Target Petmate
Sector Consumer Products
Buyer(s) Platinum Equity
Sellers(s) Olympus Partners
Ethos Partners
Deal Type Secondary Buyout

Target

Petmate

Arlington, Texas, United States
website
Petmate is a 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. Petmate was founded in 1959 and is based in Arlington, Texas.

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Buyer(S) 1

Buyer

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.

DEAL STATS #
Overall 127 of 141
Sector (Consumer Products) 4 of 5
Type (Secondary Buyout) 31 of 37
State (Texas) 7 of 7
Country (United States) 103 of 112
Year (2021) 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-19 Unical Aviation

City of Industry, California, United States

Unical Aviation is a provider of aircraft parts and components to the global commercial aerospace market. The company sources, re-certifies and resells aircraft parts to commercial airlines, cargo operators, aircraft lessors, and aviation maintenance, repair, and overhaul (MRO) businesses. Unical Aviation was founded in 1990 and is based in the City of Industry, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-21 PCI

Singapore, Singapore

PCI is an electronics manufacturing services provider, offering design, manufacturing, testing, and supply chain services to global customers. The business acts as an EMS provider for diverse end markets, including automotive, industrial equipment, commercial, consumer/lifestyle, and medical. PCI was founded in 1972 and is based in Singapore.

Sell $306M

Seller(S) 2

SELLER

Olympus Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1988
PE ASSETS 8.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Olympus Partners is a private equity group focused on investing in growth companies with strong management, and positions in their respective markets. The Firm will consider both venture capital and private equity investments and looks to commit $50 to $300 million per transaction. The Firm focuses its investment activities within the business services, healthcare, financial services, consumer, restaurant, software/IT services, and logistics/transportation industries. Olympus Partners was formed in 1988 and is based in Stamford Connecticut.

DEAL STATS #
Overall 43 of 46
Sector (Consumer Products) 2 of 3
Type (Secondary Buyout) 11 of 12
State (Texas) 5 of 5
Country (United States) 40 of 43
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 NPC International

Overland Park, Kansas, United States

NPC International is a Pizza Hut franchisee in the United States with approximately 790 stores. NPC International operated stores in 26 states with significant presence in the Midwest, South and Southeast. NPC International was founded in 1962 and is based in Overland Park, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-31 OMEGA Environmental Technologies

Irving, Texas, United States

OMEGA Environmental Technologies is an aftermarket distributor of climate control products and other mission-critical components across the light and heavy-duty automotive sectors. OMEGA Environmental Technologies was founded in 1989 and is based in Irving, Texas.

Buy -
SELLER

Ethos Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

Ethos Partners LLP is a private investment firm formed by professionals to invest their own capital in the UK companies. The Firm looks to invest between $3 to $10 million for companies valued between $5 to $30 million and EBITDA greater than $1 million. Prospective transaction situations include management buyouts, growth financings, and recapitalizations. Ethos Partners was formed in 2017 and is based in London.

DEAL STATS #
Overall 3 of 3
Sector (Consumer Products) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-17 People Value

Oxford, United Kingdom

People Value provider of employee reward and recognition, benefits delivery, and wellbeing solutions. It serves companies throughout the UK, delivering highly flexible programs and technology to help businesses enhance their employee value proposition. People Value was founded in 2002 and is based in Oxford, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Compliancy Services

Hitchin, United Kingdom

Compliancy Services is a provider of compliance consultancy and RegTech services for firms that offer regulated financial services. Compliancy Services was founded in 2003 and is based in Hitchin, United Kingdom.

Buy -
Mergr

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