Cloud Star – Capital Formation
SDR Ventures, a Colorado-based investment banking firm, is pleased to announce that Cloud Star Corporation (“Cloud Star” or “The Company”) has completed a majority recapitalization with Frontenac Company (“Frontenac”). SDR Ventures served as advisor to Cloud Star throughout the transaction process.
Launched in 1999 by Jennifer Melton and Brennan Johnson, Cloud Star, based in San Luis Obispo, California, began its journey by creating dog treats made without artificial colors, flavors or preservatives. The Company has since expanded into a variety of treats as well as grooming items, and developed the Wag More Bark trademark.
Cloud Star has seen significant growth over the past few years, built upon its well-recognized brand, recall free portfolio, and made in USA quality standards. The Company has earned national recognition for its innovative products and commitment to philanthropic organizations benefiting animals, women, children, and the environment.
“The SDR team’s vast pet industry knowledge and networking coupled with their experience in negotiating and running a complex process was impressive, and I would not hesitate to recommend SDR Ventures as an advisor,” stated Brennan Johnson, Vice President and Co-Founder of Cloud Star.
Frontenac Company is a Chicago-based private investment firm that invests in high-quality, closely-held, mid-sized businesses. Frontenac has been involved with over 200 ownership transitions with a focus on consumer goods and specifically food & beverage, but this is its first pet industry transaction.
“We look forward to entering into the pet industry, especially with a brand like Cloud Star that embodies the organic, natural, and healthy movement with their pet treats that we love to support,” said Walter Florence, Partner at Frontenac. “Additionally, I must commend SDR for running an extremely effective and efficient process for Cloud Star. Their industry knowledge and professionalism no doubt helped maximize value for their client. “
“This is a very exciting time for the pet industry,” explained SDR Principal and Founder, Chris Bouck, “we are seeing growing companies like Cloud Star attracting great private equity firms, like Frontenac, at an extraordinary rate. SDR is privileged to have been part of this transaction and work with amazing companies like these.”