January 2013.  The Peakstone Group served as exclusive financial advisor to Wafra Partners, LLC (“Wafra”) on its acquisition of Phelps Industries, LLC. 

Peakstone worked closely with Wafra to identify a platform acquisition in the fast growing pet treat and chews segment of the multi-billion dollar pet food industry.

Ryan Wierck, Managing Director of Wafra said, “Phelps is an ideal platform for us to launch a consolidation in the high growth and very attractive pet treat and chews segment.  We have been eager to partner with a leading pet treat manufacturer and look forward to pursuing a variety of organic growth initiatives and highly strategic add-on acquisitions. We were very pleased to work with Peakstone because they understand the pet industry and our strategy. Peakstone delivered a highly strategic and compelling acquisition target in Phelps and advised us in navigating the transaction to close.”

Terms of the transaction were not disclosed.

About Wafra Partners

Wafra Partners, LLC is a private equity firm that seeks to invest in and build successful middle-market companies.  They target platform acquisitions of between $4 and $15 in EBITDA and revenues of $20- $150 million.  Wafra purchases control or significant minority positions in companies with strong management, high-upside, discernible value and growth drivers.  For more information about this transaction, please visit www.wafrapartners.com.

About Phelps Industries

Phelps Industries, LLC is a manufacturer and marketer of pet treats and chews with a diversified customer base, selling to the grocery, mass and pet specialty trades. Phelps manufacturers products under their own brands as well as for private label and contract manufacturing customers. Phelps is headquartered in Wakefield, MA and maintains its manufacturing facility in Rockford, IL.