We have advised TrustedHousesitters, Rockpool Investments and members of the TrustedHousesitters management team on the sale of the category-defining, subscription-based pet-sitting and travel community. Mayfair will hold a majority stake in the business alongside the management team. Rockpool will exit their stake reinvest alongside Mayfair. The transaction values the business at over $100 million.
TrustedHousesitters is the leading travel solution for pet people which connects pet owners with pet sitters around the world. Pet owners can find verified sitters to look after their pets while they’re away from home and, in return, sitters are able to visit destinations across the globe for a unique and rewarding travel experience. Since its founding in 2010, the company has facilitated over 10 million nights of pet sitting, has grown its operations to more than 140 countries and saves pet owners and travellers thousands of pounds annually in accommodation and pet care costs.
Commenting on the deal, private equity partner Jonny Bethell said: "It has been a real pleasure working with Mathew and the team as TrustedHousesitters moves to the next stage of its journey. It's also been a pleasure to work with Rockpool once again on a further successful exit for them."
Partner at Rockpool Investments, Guy Ellis commented: "We are delighted with how TrustedHousesitters has performed over the Rockpool investment period and we look forward to re-investing alongside Mayfair as the business continues to accelerate its international expansion. Taylor Wessing have once again supported us throughout the investment period and through a successful exit process efficiently and on tight timelines."
Mathew Prior, CEO of TrustedHousesitters, said: “I’m proud of our platform’s growth over the past few years and the wonderfully positive feedback we receive from our members. We see a huge opportunity for continued expansion and believe that Mayfair is the right partner to help us achieve our global growth ambitions. Jonny Bethell and the Taylor Wessing team have done a fabulous job on this important transaction. Their advice, expertise and support has been greatly appreciated by all of the TrustedHousesitters team.”
The team was led by partner Jonny Bethell with support from senior associate Sarah Wallace and associates Callum McLean and Catie Raymond in the private equity team. Partners Claire Matthews and Liz Wilson, senior associate Bridget Winters and associate Megan Geiser provided tax and incentives advice.
