New York, August 19, 2020 – Carl Marks Advisors, a leading investment bank providing financial and operational advisory services to middle market companies, today announced that it served as the sell-side investment banker in the sale of Pet Qwerks, Inc., a designer and developer of innovative high-quality dog chews and interactive toys for dogs and cats. The company has been acquired by Petmate, the global leader in the pet supply market. Financial terms of the private transaction were not disclosed.
Founded in 2003 by entrepreneur Jim Gick and based in Irvine, California, Pet Qwerks is a rapidly growing company whose products are sold primarily through e-commerce distribution under the brand names Flavorit®, Babble Ball®, IncrediBUBBLES®, Zombie®, Bongo®, Alien®, WISH™ and Barkbones®.
“As we worked with Jim and the management team to find the right buyer for Pet Qwerks, Petmate emerged as a natural choice to help the business continue to expand and increase its reach,” said Chris Parisi, a Managing Director at Carl Marks Advisors. “Pet Qwerks’ chews and interactive dog toys are a terrific complement to the Petmate portfolio of products, and we were extremely pleased to bring our experience advising founder and family-owned businesses to this sale process and to help bring about a successful outcome for the various parties.”
“I am grateful to Carl Marks Advisors and to Chris Parisi for their strategic advice, diligence and persistence in helping achieve the desired result for Pet Qwerks,” said Gick. “We very much appreciate their hard work and partnership in finding the right buyer and effectively negotiating the sale during the very challenging times presented by the pandemic.”
The Pet Qwerks transaction adds further dimension to Carl Marks Advisors’ years of experience helping family and independent businesses sell, recapitalize their structure, realize a liquidity event, transfer ownership to the next generation, or combine with a larger partner to accelerate growth.
About Carl Marks Advisors
Carl Marks Advisory Group LLC (Carl Marks Advisors) is a New York-based investment bank that provides financial and operational advisory services. Our integrated client service teams unite industry, operations, and transaction expertise to create effective solutions in complex situations. Securities are offered through Carl Marks Securities LLC, member FINRA and SIPC. Additional information about Carl Marks Advisory Group LLC and Carl Marks Securities LLC is available at www.carlmarksadvisors.com and www.carlmarkssecurities.com.
About Pet Qwerks Inc.
Pet Qwerks (web link) was founded in 2003 with its flagship toy the Babble Balls. Since the beginning, their mission has been to make products that are safe and will put a smile on any dog’s face. Pet Qwerks’ toys have stood the test of time. Today, the Babble Balls continue to grow in popularity all over the world. In 2014, Pet Qwerks entered the nylon chew arena with infused flavor technology. The company has since expanded the line with the most natural-looking and largest dog chew toys made. Their chews are made with FDA compliant, USA-sourced nylon.
Founded in 1959 as Doskocil Manufacturing, Inc., Petmate (web link), now headquartered in Arlington, Texas, is passionate about providing fun, trusted quality products worldwide to enhance the lives of pets and their families. The company’s vision, to be the worldwide leader of solutions and excellence in the pet industry, encapsulates its commitment to deliver award-winning, innovative ideas daily to each of its product categories including bedding, kennels, dog houses, feeding and watering products, litter maintenance products, toys, collars, leads, travel, and more. Petmate’s portfolio of pet, family-favorite brands include Aspen Pet®, Chuckit!®, Dogzilla®, Fat Cat®, Gamma®, JW®, and LA-Z-BOY®. For more information, visit petmate.com.