Carl Marks Advisors served as the sell-side investment banker in the sale of Pet Qwerks, a designer and developer of innovative high-quality dog chews and interactive toys for dogs and cats. The company has been acquired by Petmate, 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,” Chris Parisi, a managing director at Carl Marks Advisors, said. “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,” Gick said. “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.
Pet Qwerks was founded in 2003 with its flagship toy the Babble Balls
Founded in 1959 as Doskocil Manufacturing, Petmate, now headquartered in Arlington, Texas, is provides products worldwide to enhance the lives of pets and their families.
