TA Associates has made an investment in PetPeople, a retailer of dog and cat foods, treats and supplies. The investment from TA Associates was used to purchase the equity stake of Rosser Capital Partners which invested in PetPeople in July 2014.
PetPeople is a retailer of natural and high-quality pet food and supplies, operating 42 stores throughout Ohio, Indiana, Michigan, Illinois and North Carolina. The company was founded in 1997 by Mike and Trish Elkind and is headquartered north of Columbus in Worthington, OH (www.petpeoplestores.com).
“TA Associates is fully on board with our mission and core values, which revolve around relationships, trust, and the health and well-being of pets,” said Mr. Elkind. “With TA’s investment, we will be able to deploy resources with an aim to build our brand into new markets and further enhance the overall customer experience in our stores. We welcome TA as an investor and are eager to begin collaborating with their team as we build upon our momentum.”
“PetPeople has demonstrated an impressive track record of organic growth, doubling their number of stores since 2014 and entering several new geographies throughout the country,” said Jeffrey Barber, a Managing Director at TA Associates. “We are honored that PetPeople has selected TA to be their partner as the company looks to take advantage of, and capitalize on, distinct opportunities within the marketplace.”
TA Associates makes buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare, and consumer industries. Since founding in 1968, TA has invested in over 500 companies globally and has raised more than $24 billion in capital. The firm has offices in Boston, Menlo Park, London, Mumbai and Hong Kong (www.ta.com).
“We are incredibly grateful for the support and trust of our team, vendors, business partners and customers,” said Ms. Elkind. “These strong relationships are the real reason for PetPeople’s success to date and we couldn’t be more excited for the opportunity to continue to build upon this foundation with TA Associates.
Rosser Capital Partners invests growth equity in the restaurant, retail and consumer industries. Typical investment targets will have $2 million to $15 million of EBITDA and have 5 to 30 locations in operation. The firm is based in Greenwich, CT (www.rossercapitalpartners.com).
Piper Jaffray was the financial advisor to PetPeople on this transaction.
© 2017 Private Equity Professional | September 5, 2017
