Lonely, locked-down homeworkers need pets, and pets need treats. Amid a surge in demand for furry pals in the course of the pandemic, Rutland Partners offered care product firm Armitage again right into a sizzling pet market. Jason Sinclair studies.
The trump card on the sale was held by Rutland. “It was all capital-funded on completion,” says Ben Slatter, a accomplice at Rutland. “We weren’t going to accept a structure with earn-outs to hit. They could see the performance of the business, and we structured things in a way that was attractive to us, and to the management vendors as well.”