European private debt manager Pemberton has provided financing alongside Partners Group to support CapVest’s acquisition of Inspired Pet Nutrition (IPN), a FMCG pet food company based in Thirsk, North Yorkshire, in the United Kingdom.
Founded in 1923, IPN has grown into a leading independent pet food company in the United Kingdom, providing premium, natural products at an affordable price point. The company owns two of the top three dry dog food brands in the UK, Harringtons and Wagg, and has a strong private label offering supplying leading pet specialist retailers and grocers.
IPN has an outstanding track record of sales growth over the last 20 years and has increased its market share in recent years. The company has a strong focus on sustainability and is the UK’s first carbon-negative pet food manufacturer of scale.
Richard Meehan, Director, Origination at Pemberton, says: “IPN’s brands are leaders in a highly resilient sector and are ideally positioned to benefit from the trend towards more natural products. The financing structure, which utilises several different capabilities across Pemberton’s family of strategies, is an example of our ability to deliver an innovative and tailored financing solution. We look forward to supporting the company as it pursues its growth strategy both organically and via acquisitions, and we are delighted to be backing CapVest again, a core relationship sponsor with deep sector expertise.”
Kristian Nikinmaa, Principal at CapVest, says: “We believe IPN is a great company with highly attractive expansion opportunities in the resilient and growing natural pet food segment. We are excited to partner with Pemberton, a key financing relationship, who working on a tight time frame alongside us has been instrumental in providing a tailored financing solution that supports our strong growth ambitions for the business. “
Pemberton supported CapVest’s acquisition of IPN though its Mid-Market and Strategic Credit strategies.
