Frontenac Company said Wednesday that it has completed a majority recapitalization of Cloud Star Corp. No financial terms were disclosed. Based in San Luis Obispo, Calif., Cloud Star is a provider of products and treats for pets.
CHICAGO – July 16, 2014 – Frontenac Company, a leading private investment firm focused on investing in lower middle market, family held or owner operated businesses, today announced that it has completed the majority recapitalization of Cloud Star Corporation to support the growth plans of this producer of natural and wholesome pet products. Financial terms of the private transaction were not disclosed.
Headquartered in San Luis Obispo, California, Cloud Star was launched in 1999 with Buddy Biscuits, and has since added a wide variety of natural and wholesome dog and cat treats, grooming products and merchandise for canine and feline connoisseurs. Cloud Star treats and grooming products are made in the USA using healthy and premium ingredients. Their simple, easy to read ingredient labels resonate with pet parents, and Cloud Star products help create happy pets, especially those with finicky palates or sensitive skin.
“We were seeking a partner to help take our business to the next level, both financially and strategically, and we are very happy to announce our new partnership with Frontenac,” said Cloud Star founders Jennifer Melton and Brennan Johnson.
“With their long history of working with family-owned businesses, Frontenac’s values are aligned with those of Cloud Star.”
As part of Cloud Star’s growth plans, the company has appointed Olivier Amice, previously CEO of Royal Canin USA and FURminator, as Chief Executive Officer. “My Labradors have been Cloud Star ‘consumers’ for many years, and I am very pleased to join such a great company and continue the fantastic job the Cloud Star team has done to bring natural, healthy and minimally-processed solutions to dog and cats,” Amice stated.
Frontenac has extensive experience in the food sector, including investments in Alfalfa’s Market, Chipotle, Health Valley Foods, Levy Restaurants, Mercer Foods, and Wenner Bread Products.
Cloud Star is the third platform investment made by Frontenac X Private Capital, which closed in July 2014 with $250 million of committed capital.
“Cloud Star has built a tremendous brand in the natural pet products arena, and we are excited they chose to partner with Frontenac,” said Walter Florence, a Managing Partner at Frontenac Company. “We look forward to working with the team to leverage their market leadership and the strength of their brands to introduce new, high-quality products.”
SDR Ventures, Inc. acted as financial advisor to the Company, and Winston & Strawn LLP served as legal counsel to Frontenac Company.
About Cloud Star
Cloud Star Corporation, located in San Luis Obispo, California, has been dishing up their products to canine and feline connoisseurs since 1999. Their extensive product line includes a wide variety of wholesome and natural treats for dogs and cats, grooming products, and “Wag More Bark Less”merchandise. Simple, easy to read, ingredient statements resonate with pet parents and thrill dogs and cats with even the most finicky palate or sensitive skin. Cloud Star’s treats for dogs and cats are made with the same types of ingredients used in human food, and are suitable for dogs and cats with allergies. The company produces treats free of corn, soy, artificial colors, artificial flavors, byproducts, and preservatives. As part of Cloud Star’s commitment to giving back, the company donates to non-profit organizations benefiting animals, women, children, and the environment. To view Cloud Star’s full product line or find a retailer near you, please visit www.cloudstar.com.
About Frontenac Company
Frontenac Company is a leading private investment firm focused on investing in lower middle market buyout transactions in the business services, industrial, food and healthcare sectors.
Frontenac works in partnership with proven operating leaders, through our executive-centric approach called CEO1ST®, to identify, acquire, and build market leading companies through transformational acquisitions and operational excellence. The firm has built a leading franchise working with the owners of mid-sized businesses, almost always families or founders, as they address complex transition issues of liquidity, management enhancement, and growth planning.
Based in Chicago, Frontenac has completed over 25 buyout transactions, and nearly 60 add-on acquisitions, since 2000. For more information, please visit www.frontenac.com.