Fifth Third served as financial advisor to Radio Systems in its acquisition by Clayton, Dubilier & Rice. Fifth Third Business Capital acted as lead lender and administrative agent for the asset-based acquisition financing. Fifth Third Capital Markets served as joint lead arranger and joint bookrunner on a senior secured bridge facility and Fifth Third Securities served as joint book-running manager on the senior secured notes offering.
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. Headquartered in Knoxville, TN, the company has more than 800 employees worldwide that help the company reach consumers across the Americas, Europe and Asia.
“We have a strong relationship with the Radio Systems team, and we were able to effectively understand and address their needs,” Kevin Lavender, executive vice president and head of commercial banking at Fifth Third, said. “Our commercial team at Fifth Third came together to provide a comprehensive financial solution that will allow the company to execute their growth initiatives.”
