M&A Deal Summary

PetSmart Acquires Pet360

On September 29, 2014, PetSmart acquired internet software and services company Pet360 from Updata Partners and LLR Partners

Acquisition Highlights
  • This is PetSmart’s 1st transaction in the Internet Software and Services sector.
  • This is PetSmart’s 2nd transaction in the United States.
  • This is PetSmart’s 1st transaction in Pennsylvania.

M&A Deal Summary

Date 2014-09-29
Target Pet360
Sector Internet Software and Services
Buyer(s) PetSmart
Sellers(s) Updata Partners
LLR Partners
Deal Type Add-on Acquisition

Target

Pet360

Plymouth Meeting, Pennsylvania, United States
Pet360, Inc. is a online pet information, community and commerce company that operates www.PetFoodDirect.com, an online pet food and supply retailer, www.NationalPetPharmacy.com, a fully certified, full-service pet pharmacy delivering pet meds, vitamins and comprehensive pet health and wellness products; and www.petMD.com, a leading pet health information resource.

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Buyer(S) 1

Buyer

PetSmart

Phoenix, Arizona, United States

Category Company
Founded 1986
Sector Retail
Employees55,000
Revenue 6.9B USD (2014)
DESCRIPTION
Entrance to PetSmart's corporate headquarters in Phoenix, Arizona.
Entrance to PetSmart's corporate headquarters in Phoenix, Arizona.

PetSmart is a specialty retailer and provider of pet products and services in North America. The Company also offers a selection of services, including professional grooming and boarding, as well as training and day camp for dogs. PetSmart was formed in 1986 and is based in Phoenix, Arizona.


DEAL STATS #
Overall 2 of 4
Sector (Internet Software and Services) 1 of 2
Type (Add-on Acquisition) 2 of 4
State (Pennsylvania) 1 of 1
Country (United States) 2 of 4
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-05-16 Sporting Dog Specialties

Brockport, New York, United States

Sporting Dog, a Rochester, N.Y.-based company, is the leading world- wide catalog retailer of pet and animal supplies and accessories.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-19 DCL Ventures

New York, New York, United States

DCL Ventures, Inc. (AllPaws) is an online and mobile platforms that matches those looking to adopt a pet with pets ideally suited for their home, family and lifestyle.

Buy -

Seller(S) 2

SELLER

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $100 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


DEAL STATS #
Overall 25 of 45
Sector (Internet Software and Services) 3 of 8
Type (Add-on Acquisition) 19 of 32
State (Pennsylvania) 1 of 1
Country (United States) 25 of 41
Year (2014) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-11 Harmony Information Systems

Reston, Virginia, United States

Harmony Information Systems Inc. is a provider of Web-based, business process and case management software solutions for the human services industry. HarmonyIS developed and markets Harmony, a Web-based, enterprise framework suite of software applications for information management in the human services field.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Harver

New York, New York, United States

Harver is a volume hiring solution designed to help innovative companies around the world hire better, faster, and in a fundamentally fair manner. Global organizations, including mcdonald’s, booking.com, valvoline, and alorica use harver to digitally transform their candidate selection process into an experience that recruiters, hiring managers, and candidates love. Harver is based in New York, New York.

Sell -
SELLER

LLR Partners

Philadelphia, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

LLR is a private equity firm that makes growth capital, buyout, and recapitalization investments in mid-sized growth companies with sustainable competitive advantages. LLR looks to invest $30 to $150 million per transaction and will consider both control and minority situations. Target companies generally have at least $10 million in annual sales and are valued up to $250 million. Broad industry sectors of interest include general business services, financial services, healthcare services, education, manufacturing, consumer/retail and information technology/software. LLR will consider investments throughout the US with an emphasis on opportunities located in the Eastern and Mid-Atlantic regions of the US. LLR Partners was formed in 1999 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 27 of 76
Sector (Internet Software and Services) 1 of 6
Type (Add-on Acquisition) 17 of 47
State (Pennsylvania) 11 of 20
Country (United States) 26 of 75
Year (2014) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-24 Quintiq Holding B.V.

Hertogenbosch, Netherlands

Quintiq Holding B.V. is a provider of advanced planning and optimization solutions. The company’s solutions allow customers to increase revenues and/or reduce expenses by improving the efficiency of various critical processes within the supply chain.

Sell €250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-21 Relias Learning

Boca Raton, Florida, United States

Relias Learning LLC is a provider of verticalized e-learning solutions through SaaS-based software and related course content. The solutions enable organizations to remain in compliance with regulatory and accreditation requirements and offer continuing education solutions to current employees. Relias Learning was founded in 2012 and is based in Boca Raton, Florida.

Sell -