Inflexion Private Equity is pleased to announce its investment in Lintbells Limited, a leading producer of nutritional supplements for pets.
Founded in 2006, Lintbells is now the leading pet supplements company in the UK, including two key brands: YuMOVE, the number one joint mobility supplement for dogs and cats, and YuMEGA, the UK’s number one supplement for skin and coat*. Lintbells has nascent but growing international businesses in Asia and Europe.
The UK market for pet supplements is worth approximately £100m and is growing at 7% per annum as pet owners become more aware of the existence and effectiveness of such products. With an immature and fragmented market, there is significant scope for Lintbells to scale further. There is also the opportunity to launch new products, enhance Lintbells’ existing digital presence and continue its international expansion.
Inflexion can draw on its experience in the pet-care market, having already invested in Medivet, the UK’s largest independent operator of veterinary practices, and Kynetec, the primary provider of market data to companies operating in this sector.
Tim Smallbone, Head of the Enterprise Fund, Inflexion, commented, “We are delighted to have partnered with such a strong and motivated management team. The business is well placed to accelerate its already impressive growth in both the UK and internationally, with significant investment and R&D underpinning Lintbells’ prospects.”
John Howie, CEO & Co-founder, Lintbells, said, “We are excited to have brought on board a true partner whose international presence and sector expertise will be invaluable as we work together to drive Lintbells’ growth. We knew we had found the right partner when the Inflexion team showed the ability to quickly understand our business and what drives it. It made the process move incredibly swiftly. We look forward to working closely with them as Lintbells attracts new customers, launches new products, and enters new geographies.”
The Inflexion deal team comprised Tim Smallbone, Ben Long and Robin Senivassen. Ben Long will join the board on completion.
This deal was made by affiliated funds advised by Inflexion Private Equity Partners LLP.
*Kynetec VetTrak MAT Sales November 2017.
For Lintbells, every product starts with a pet in need. Based in Weston in Hertfordshire, Lintbells researches, formulates and manufacturers high quality, innovative natural supplements that aim to improve the lives of dogs, cats and horses. It’s a commitment the company takes very seriously and has resulted in products that support skin and coat condition, digestive health and joint care.
Established in 2006 by John Howie and John Davies, Lintbells has a strong focus on scientific validation of its products, working with experts such as the Royal Veterinary College and New Zealand’s Marlborough Research Centre. But it doesn’t stop with the science because helping pets is at the core of the business.
At all levels of the Lintbells’ organisation there’s a realisation that collectively, everyone has a responsibility to help keep pets healthy and happy by providing effective, high quality, pet supplements at affordable prices.
And it seems those efforts are increasingly appreciated by pets and their people. By the end of 2017, 380 million YuMOVE tablets had been sold to pet owners in more than 15 countries, resulting in Lintbells entering the Sunday Times Fast Track 100 for the second year running.
Inflexion is a UK mid-market private equity firm, investing in high growth, entrepreneurial businesses with ambitious management teams and working in partnership with them to accelerate growth. Inflexion’s flexible approach allows it to back both majority and minority investments and it typically invests £10m to £150m of equity in each deal.
With bespoke teams and dedicated capital, Inflexion invests across all sectors from offices in London and Manchester. The firm helps businesses achieve the next stage of their development through international expansion, operational improvements, digital expertise, access to Inflexion’s networks and funding for acquisitions. It benefits from experts in Bangalore, São Paulo and Shanghai dedicated to portfolio development, enabling investee companies to benefit from privileged access to these fast-growth markets.
In 2017, Inflexion retained its leading position in Preqin’s annual global league for consistently top performing buyout funds. Ranked first, Inflexion is the only UK fund to be listed. The firm has also won a number of industry accolades for its success in growing the businesses it backs.
Inflexion is currently investing its £650m Buyout Fund IV, £400m Partnership Capital Fund I and £250m Enterprise Fund IV together with a £250m Supplemental Fund.
Inflexion is currently advising c. £2bn on behalf of its investors, read more at inflexion.com.