TSG Consumer agrees to exit minority stake in Radio Systems

Radio Systems designs more than 2,000 pet products under various brands.

TSG Consumer Partners agreed to sell its minority stake in Radio Systems Corp, as part of the company’s sale to Clayton, Dubilier & Rice. Radio Systems designs more than 2,000 pet products under various brands. The transaction is expected to close in June. Radio Systems founder Randy Boyd will continue to serve on the board of directors and the company will remain based in Knoxville.

Press Release

TSG Consumer Partners (“TSG”), a leading private equity firm focused exclusively on the branded consumer and retail sectors, today announced that it has entered into an agreement to sell its minority stake in Radio Systems Corporation (“Radio Systems”), the leading innovator in the companion pet health and safety market, as part of the company’s sale to Clayton, Dubilier & Rice. Terms of the transaction were not disclosed.

Founded in 1991 by entrepreneur Randy Boyd, Radio Systems designs and distributes more than 2,000 pet products under brand names such as Invisible Fence®, PetSafe®, ScoopFree®, SportDOG® and Kurgo®, among others. Headquartered in Knoxville, Tennessee, the company has more than 800 employees worldwide that help the company reach consumers across the Americas, Europe and Asia.

Randy Boyd, Founder and Chairman of Radio Systems, said, “TSG’s collaborative approach proved immensely valuable throughout our partnership. We are grateful for TSG’s support and insights across branding, channel management, digital marketing, and acquisitions as we continued to grow our business.”

Hadley Mullin, Senior Managing Director of TSG, commented, “We feel very honored to have partnered with Randy and his extraordinary team over the last fourteen years – across two separate investments – and are proud of what we have accomplished together. Radio Systems has created a portfolio of best-in-class pet products that truly resonates with consumers.”

Dan Costello, Managing Director at TSG, said, “Radio Systems is a world-class organization with strong innovation capabilities, talented employees, and an award-winning culture. We wish Randy and his team continued success and know the company will continue to thrive in this next chapter.”

The transaction is expected to close in June 2020. Randy Boyd will continue to serve on the Board of Directors, and the company will remain based in Knoxville.

Jefferies LLC served as financial advisor and Waller Lansden Dortch & Davis, LLP served as legal counsel to Radio Systems. Ropes & Gray LLP served as legal counsel to TSG.

About TSG Consumer Partners

TSG Consumer Partners, LLC is a leading private equity firm focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, fitness, beauty, personal care, household, apparel & accessories, and e-commerce sectors. Representative past and present partner companies include Planet Fitness, Duckhorn Wine Company, Joe Hudson’s Collision Centers, CorePower Yoga, IT Cosmetics, REVOLVE, BrewDog, Canyon Bicycles, Pabst, Backcountry, vitaminwater, thinkThin, popchips, Stumptown, Smashbox Cosmetics and e.l.f. Cosmetics. For more information, visit tsgconsumer.com.

About Radio Systems Corporation®

Radio Systems Corporation is a leading developer and distributor of durable pet products. The company is headquartered in Knoxville, TN with offices worldwide. The Radio Systems Corporation family of brands includes PetSafe®, Invisible Fence®, SportDOG®, and Kurgo®, among others. Since its founding in 1991, Radio Systems Corporation has grown into an international corporation selling in over 52 countries. The Radio Systems Corporation portfolio includes a wide array of behavioral, containment and lifestyle product solutions for dogs and cats. Radio Systems Corporation is driven by a dedication to creating quality products for pets and their owners. To learn more about Radio Systems Corporation visit radiosystemscorporation.com.