Pestell Group Acquires VersaPet
Acquisition expands Pestell’s geographic presence and product portfolio in the cat litter market
Chicago, IL, June 26, 2019 – Wind Point Partners (“Wind Point”) and portfolio company Pestell Group (“Pestell” or the “Company”) are pleased to announce today that Pestell has acquired VersaPet Inc. (“VersaPet”) through its Pestell Pet Products (“PET”) business unit, further establishing its capabilities as a diversified pet platform. VersaPet, founded in 2009 and headquartered in Toronto, Canada, is a manufacturer of private label and branded cat litter products.
The acquisition is highly complementary to Pestell’s PET business, which manufactures animal litter and small animal bedding products, as VersaPet increases PET’s overall capacity for cat litter production. In addition, VersaPet will now be able to offer its customers additional products from the broader PET portfolio, including paper-based animal litter, animal bedding, pet treats, and dental chews.
Matt Miller, Pestell PET CEO, commented, “We are thrilled to welcome VersaPet to the Pestell family. VersaPet brings high-quality cat litter and a great reputation in the industry and we are excited about the future. We look forward to the additional opportunities we can provide customers through our combined business.”
Paul Peterson, Managing Director with Wind Point Partners, stated, “VersaPet has achieved substantial growth, and we believe that the combination with Pestell will serve as a catalyst for even greater growth as the two businesses leverage their respective customer bases.”
The acquisition of VersaPet continues Wind Point’s long history of partnering and working with family-held businesses. This marks the third acquisition for PET since Wind Point’s original investment in Pestell, following the acquisitions of BPV Environmental and Targeted Pet Treats. PET continues to further diversify its product offering and geographic presence to better serve its customer base.
Elliott Wahle, Chairman and CEO of VersaPet, commented, “We are extremely pleased to be joining Pestell Pet Products. We believe that this new partnership will dramatically enhance our ability to innovate and allow us to continue to provide the level of service and quality our customers are accustomed to. We are most excited about the next phase of our growth as part of the Pestell organization.”
Wind Point Partners acquired Pestell in June of 2018, in partnership with Matt Miller, a more than 20-year veteran of the pet and consumer industries. In cooperation with Matt and management of Pestell, Wind Point will seek to continue expanding the Pestell platform through a combination of organic growth and complementary acquisitions. The Wind Point investment team has considerable experience in consumer products, including the pet industry, which has been an area of focus for the firm since its founding in 1984.
Antares Capital, BMO Sponsor Finance and PennantPark led the debt financing for the transaction. Kirkland & Ellis LLP served as legal counsel to Pestell.