Buyout (LBO, MBO, MBI) • Retail

The Rohatyn Group and Souter Investments Limited Acquire Pet Network

On October 9, 2018, asset manager The Rohatyn Group and family office Souter Investments Limited acquired retailer Pet Network

Acquisition Context
  • This is The Rohatyn Group’s 2nd and Souter Investments Limited’s 1st transaction in the Retail sector.
  • This is The Rohatyn Group’s 1st and Souter Investments Limited’s 1st transaction in Croatia.
Investment Fate
  • Pet Network was sold to a consortium of financial buyers in 2021.

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M&A Deal Summary

Date October 9, 2018
Target Pet Network
Sector Retail
Buyer(s) The Rohatyn Group
Souter Investments Limited
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Pet Network

Zagreb, Croatia
Pet Network offers its customers a best-in-class range of thousands of pet products, available both in physical stores and online, as well as other services such as grooming and veterinary care. Pet Network is a European pet care retail group of companies, currently operating in South-Eastern Europe. The company is operating under the brand Pet Centar, in Romania, operating under the brands Animax and Maxi Pet, in Slovenia, operating under the brand Mr. Pet, in Serbia, operating under the brand Pet Centar. Pet Network is based in Zagreb, Croatia.
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Buyers Overview 2

DESCRIPTION

The Rohatyn Group is a multi-strategy asset management firm focused on emerging markets. The Firm's investment areas include private equity, infrastructure, fixed income, currencies, forestry, and agriculture. Rohatyn's private equity group looks to invest alongside entrepreneurs, families and management teams in middle-market businesses that benefit from increasing levels of disposable income, improved access to healthcare and education, and increasing connectivity to developed markets. The Rohatyn Group was formed in 2002 and is headquartered in New York City.


Deal Context for Buyer #
Overall 2 of 4
Sector: Retail 2 of 2
Type: Buyout (LBO, MBO, MBI) 2 of 2
Country: Croatia 1 of 2
Year: 2018 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 MIMAJA

Ljubljana, Slovenia

MIMAJA operates a retail chain of 16 stores throughout Slovenia, as well as an online store, under the “Mr. Pet” brand name. MIMAJA was established in 2004 and is based in Ljubljana, Slovenia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-12 Optimapharm

Zagreb, Croatia

Optimapharm is a clinical research organization. Optimapharm was founded in 2005 and is based in Zagreb, Croatia.

Buy -
DESCRIPTION

Souter Investments is a family office focused on private equity investing throughout the UK. The Firm looks to commit £2 to £30 million to support a variety of transaction situations including buyouts, growth capital financings, corporate divestitures, and balance sheet restructurings. Broad areas of interest include transportation, luxury goods, financial services, healthcare, and business services. Souter Investments was established in 2008 and is based in Edinburgh, Scotland.


Deal Context for Buyer #
Overall 19 of 48
Sector: Retail 1 of 1
Type: Buyout (LBO, MBO, MBI) 5 of 14
Country: Croatia 1 of 1
Year: 2018 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-09 Agilico

Hampshire, United Kingdom

Agilico is a provider of managed print and document management services. Agilico was founded in 1991 and is based in Hampshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 DivideBuy

Staffordshire, United Kingdom

DivideBuy is a FinTech company which offers interest free credit to customers through selected online and offline retailers. DivideBuy provides interest-free credit to over 300,000 account holders. The company currently has partnerships with over 400 retailers. DivideBuy was founded in 2012 and is based in Staffordshire, United Kingdom.

Buy -