March 30, 2015 – New Canaan Funding (“NCF”) provided financing to support the acquisition of Wilson Pet Supply, Inc. (“Wilson”) by Animal Supply Company, LLC (“ASC”), a portfolio company of The Halifax Group. NCF provided an expansion of the 2nd Lien credit facility for ASC as part of this acquisition.
ASC, headquartered in Federal Way, Washington and founded in 1987, is the only pet product distribution platform with true national coverage, operating in 23 locations to serve customers in 46 states and the Caribbean. ASC is a wholesale distributor of pet products, supplies and services and also provides merchandising display services for selected wholesale customers. Wilson is a wholesale distributor of pet foods and products serving 9 states across the Midwest and augment ASC’s brands and customer base in existing geographical markets.
New Canaan Funding, with offices in New Canaan, Connecticut and Wheaton, Illinois, is a mezzanine firm focused on the middle market private sponsor community. Since its beginnings in 1995, NCF has targeted acquisitions, recapitalizations and growth financings in conjunction with its private equity clients. NCF is currently investing out of its fifth fund. The investment in ASC represents NCF’s sixteenth investment in the fund.
The Halifax Group is a private investment firm dedicated to partnering with founds and managers of lower middle-market businesses with total enterprise values generally between $30 million and $125 million across a variety of industries including health and wellness, infrastructure services, business and government services and franchising. The firm maintains offices in Washington, DC, Dallas, TX, and Raleigh, NC.
Contact at New Canaan Funding:
Bradley A. Ament