Allegiance Capital Facilitates Radio Systems Corporation’s Acquisition of Premier Pet Products, L.L.C.
IB sees opportunities in “recession-defying” pet products sector
Dallas – March 2, 2010 – Allegiance Capital Corporation, an international investment banking firm serving privately-held middle-market companies, announces the sale of its client Premier Pet Products, L.L.C. (Premier), to Radio Systems Corporation (Radio Systems).
Premier® is a privately-held pet products company based in Midlothian, Va., that develops and sells a variety of unique training products which are recognized by trainers and veterinarians throughout the industry. Radio Systems, based in Knoxville, Tenn., is a leader in pet training and management products, including pet containment, pet doors and lifestyle products, and is well known for the PetSafe®, SportDOG® and Invisible Fence® brands. Premier will operate as an independent division of Radio Systems, remaining in its Virginia facility. Sharon Madere (founder of Premier) will stay on as Premier’s president, and will join the Radio Systems senior management team. Terms of the private transaction were not disclosed.
Allegiance Capital is currently involved in additional engagements with companies in the pet products industry, primarily in the white label and branded dog and cat food manufacturing space. Doug Ortega, vice president of Allegiance Capital and the lead banker representing Premier during the transaction, says, “We are seeing significant interest from investors in pet product companies due to the sector’s recession-defying growth.”
Spending on pets grew 5.4 percent in 2009, according to the American Pet Products Association, whose 2009/2010 National Pet Owners Survey found that 62% of U.S. households (71.4 million homes) have a pet. The association projected spending in the pet products sector will grow nearly 5 percent in 2010.Allegiance Capital Announces Pet Products Transaction March 2, 2010
About Allegiance Capital
Allegiance Capital Corporation is a full-service investment banking firm specializing in the middle market (companies with revenue from $20 million to $500 million). Through its global network, Allegiance Capital assists companies in every aspect of selling and financing a business, including debt restructuring, mezzanine financing, buy out management, strategic partnering, consulting and other related services. Its Special Situations group handles financial restructuring and distressed mergers and acquisitions. For more information, refer to the company website: www.allcapcorp.com.