Acquisition seeks to build on ‘outstanding’ pet food company’s success
Leicestershire pet foods producer Assisi Pet Care Group has been acquired by Wind Point Partners, a Chicago-based private equity firm with about $6bn worth of assets under management.
The deal was supported by a team of Leeds-based legal and financial advisers and provides a successful exit for Harwood Private Equity.
Assisi was founded in 2020 by its CEO, Yorkshire-based entrepreneur Peter Mangion.
Headquartered in Melton Mowbray, the company’s products are sold in the UK and throughout Europe, with two natural treat production facilities located in Poland.
Under Mangion’s leadership, Assisi has grown significantly through organic initiatives and completion of four acquisitions which expanded the company’s product capabilities and geographic reach.
A team of Leeds-based advisers has supported Assisi’s growth journey, advising through its four acquisitions.
It included Jonathan Simms, Hitesh Tailor, Tony Berry and Isabelle Hammond of Clarion who provided legal advice; Richard Firth and Daniel Swanwick of Park Place who provided corporate finance advice; and Russ Cahill of Tax Advisory Partnership who provided tax advice.
Mangion said: “Assisi has been on a tremendous journey since its inception in 2020, which is a testament to the strength and quality of our people, our customer and supplier relationships and the rich heritage of our brands and products.
“Wind Point and I have worked closely together for numerous years. Our shared focus on investing in our people and expanding our capabilities makes them the ideal partner for Assisi.”
Adam Jump, vice president at Wind Point, added: “Assisi is a rapidly growing platform with significant opportunity in the dynamic European pet care industry.
“Peter and the Assisi management team have built an outstanding business that sits at an exciting inflection point.
“We look forward to supporting the Assisi team as they continue to build a differentiated pet foods and treats platform.”
Wind Point is a long-time investor in the pet and animal nutrition industry, with select prior and current investments including targeted PetCare, FoodScience, Petmate and Pestell Nutrition.
Reed Smith LLP served as legal counsel to Wind Point and KPMG LLP provided transaction advisory services in connection with the transaction.
