NOVATO, CA – Worldwise Inc. has a new owner.
The Novato, CA-based company was acquired by Alvarez & Marsal Capital Partners, a private equity investment fund that is part of the A&M Capital platform, together with A&M Capital Opportunities Fund, an affiliated fund.
Financial terms of the deal were not disclosed.
Worldwise brands include SmartyKat, TrustyPup, Petlinks, goDog, SHERPA, Guaranteed On-Board, PoochPlanet and Pawscout. Its product categories include cat toys, pet bedding, dog toys, cat scratchers and travel accessories.
Worldwise CEO Kevin Fick will continue to lead the company following the acquisition. With AMCP’s support, Worldwise “will remain focused on developing new, innovative products, expanding its e-commerce capabilities and further leveraging its leading brand positions to scale the business and enter new markets and product categories,” according to a press release. It will also pursue additional acquisition opportunities to grow its platform, reach and product offerings, with a focus on toys, chews, cat, travel and other key categories.
“We have been incredibly impressed with the work that Kevin and his team have done to create a leader in pet supplies and essentials, including implementing innovative product development, leveraging consumer data, making impressive strides in sustainable manufacturing, and developing a highly successful, diverse omnichannel distribution model,” said Ryan McCarthy, partner at AMCP. “While Worldwise will be a separate platform investment for A&M Capital, our team will leverage the deep expertise in the pet industry that we have built up over the past few years through our work with BrightPet to help the Worldwise team advance their strategy and expansion. We expect this space will continue to benefit from the broadening adoption of e-commerce and increased demand for premium, high-quality pet products, and we look forward to helping fuel the Company to take full advantage of the exciting trends in their product categories.”
Fick said: “We could not be more excited about this acquisition and what it means for our future. AMCP knows the pet industry well, and with their financial and strategic backing—including the significant resources of A&M’s consulting business—we will have the opportunity to invest in our business, build significantly on our category leadership and accelerate our growth. We are excited to provide pets and pet parents with even more highly innovative, high-quality products across cat and dog accessories, while maintaining our relentless focus on the customer. We’ve worked hard to become a global leader by providing the highest quality products for pets and pet parents and can’t wait to accelerate our strong trajectory into new segments and geographies.”
George Kollitides, partner at A&M Capital Opportunities, said, “We believe that by partnering with AMCP, the Worldwise team will accelerate its ability to expand across its product categories and we are looking forward to exploring a range of exciting opportunities for organic growth as well as bolt-on acquisitions.”
Andrew Heyer, founder and CEO of Mistral Equity Partners, the majority shareholder of the company, stated, “We are grateful to the management team of Worldwise, led by Kevin Fick, for their tremendous diligence and efforts in building the Company into an industry leader.”