M&A Deal Summary

Letterone Acquires Destination Pet

On October 28, 2019, private equity firm Letterone acquired consumer services company Destination Pet from The Firmament Group

Acquisition Highlights
  • This is Letterone’s 1st transaction in the Consumer Services sector.
  • This is Letterone’s 1st transaction in the United States.
  • This is Letterone’s 1st transaction in Colorado.

M&A Deal Summary
Date 2019-10-28
Target Destination Pet
Sector Consumer Services
Buyer(s) Letterone
Sellers(s) The Firmament Group
Deal Type Secondary Buyout

Target

Destination Pet

Highlands Ranch, Colorado, United States
Destination Pet is a provider of broad array of pet care services. Destination Pet is focused on the acquisition and buildout of top-quality pet facilities to provide pet owners with superior care by utilizing a one-stop location that includes boarding, daycare, grooming, training, and veterinary services. Destination Pet was founded in 2016 and is based in Highlands Ranch, Colorado.

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Buyer(S) 1

Buyer

Letterone

Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 26.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LetterOne (L1) is a private equity firm focused on long-term investment opportunities in the energy, technology, health and retail sectors. LetterOne was founded in 2013 and is headquartered in Luxembourg.

DEAL STATS #
Overall 5 of 8
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-01 DIA

Las Rozas, Spain

DIA is a specialist discount food retailers. It operates in five countries, Spain, Portugal, Brazil, Argentina and China, where it operates with more than 7,000 stores through its key formats: DIA Market, DIA Maxi, DIA Fresh, Clarel, Schlecker, El Arbol and Minipreço. DIA was founded in 1966 and is based in Las Rozas, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-02 Upp

London, United Kingdom

Upp is offering next level broadband to consumers and local businesses. Upp is using next-generation technology to power its multi-gigabit fibre network, supported by global suppliers including Nokia, Linksys, Fujikura and Salesforce.com. Upp was founded in 2021 and is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

The Firmament Group

Investor Investor Investor Investor Investor

Category Family Office
Founded 2012
Size Small
Type Sector Agnostic
DESCRIPTION

The Firmament Group is a family backed investment firm focused on providing equity and debt capital to small and medium-sized companies. Funds are generally used to finance leveraged buyouts, complete recapitalizations or restructurings, provide liquidity for organic growth, or finance add-on acquisitions. The Firmament Group was established in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 1 of 6
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 4
State (Colorado) 1 of 1
Country (United States) 1 of 6
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 Total Seal

Phoenix, Arizona, United States

Total Seal is a developer and manufacturer of performance piston rings and accessories for the automotive aftermarket and the broader industrial sector. Total Seal was founded in 1967 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-23 Denali

Russellville, Arkansas, United States

Denali is a provider of specialty waste and environmental recycling and disposal services in the United States, performing mission-critical daily organic waste collection, processing, recycling, and disposal for municipal, industrial food processing and downstream industrial customers. Denali is based in Russellville, Arkansas.

Sell -
Mergr

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