Los Angeles, California – Avante Mezzanine Partners (“Avante”) announced today that it has provided unitranche debt and an equity co-investment to support the majority recapitalization of Cloud Star Corporation (“Cloud Star” or the “Company”) by Frontenac Company (“Frontenac”). Headquartered in San Luis Obispo, CA, Cloud Star’s extensive product line includes a wide variety of all natural treats for dogs and cats, grooming products and pet accessories. Concurrently with the recapitalization, Olivier Amice, former head of Royal Canin USA and FURminator, joins as chief executive.
“We chose Avante due to their one-stop financing solution and high level of certainty to close,” said Joseph Rondinelli, Vice President of Frontenac. “We were impressed with Avante’s speed of execution and partnership approach throughout the process. We look forward to their ongoing support as Cloud Star continues its impressive growth.”
“The natural pet treat and food markets are growing rapidly, as consumers become more aware of their pets’ specific health and functional needs and more selective about the ingredients in their pets’ diets,” said Natasha Fox, Partner of Avante. “Cloud Star is at the forefront of the movement to offer pet owners wholesome, minimally processed, all natural pet treats exclusively made in the USA.” “Frontenac’s successful experience in the specialty food and consumer industries along with their long history of working with family-owned businesses makes them an ideal partner to take Cloud Star to the next level,” added Paul Hayama, Principal of Avante.