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Apollo, Blue Point, A&M love cats and dogs; plus a conversation with Iron Path Capital

Good morning dealmakers, thank goodness it’s Friday!

It’s Obey Martin Manayiti here with the Wire.

Today we are capping off the week with a look at five PE-backed deals counting on your love of animals.

We’re also revisiting some marketing deals announced this week, one from Monroe Street and another from Dublin Clark.

And we’ll close out with highlights of an interview I did with Iron Path Capital co-founder and managing partner Scott Mraz regarding a carve-out deal.

Dog treats

During the covid pandemic, there was a boom in pet care, as the work from home experience inspired many households to adopt dogs and cats, writes my colleague Rafael Canton.

Subscribers can read the deal roundup, featuring Apollo's recent investment, and all about the factors driving dealmaking in the sector.

And we’ll have more on Apollo and BC backing PetSmart next week.

Let’s go marketing!

We saw a pair of investments in the marketing sector this week.

First, Chicago-based Monroe Street Partners acquired a majority stake in Richmond, Virginia-based Brandito.

Also, Level Agency, which is backed by Dubin Clark, acquired San Francisco-based Becker Media, a marketing agency serving the education sector.

This year PE Hub has seen a steady stream of marketing deals. In April, we rounded up six PE-backed digital marketing deals.

Since then, a lot more deals have been announced and we will continue revisiting the space throughout the year.   

Key ingredient

Earlier in the week, Iron Path Capital-backed PureTech Scientific announced the carveout of the glycolic acid business of The Chemours Company for $137 million.

I caught up with Iron Path co-founder and managing partner Scott Mraz, who said the firm sees a lot of growth opportunities.

To read my interview, upgrade to the premium version of the Wire.

That’s it for me today.

MK Flynn will be back with the newsletter on Monday.

Have a nice weekend.

Cheers,

Obey

Read the full wire commentary on PE Hub ...

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Hamilton Lane has raised 50 percent of the target of its latest private equity secondaries vehicle and is also eyeing a final close on its second infrastructure secondaries fund this year. (Secondaries Investor)

OMERS Infrastructure has hired Michael Hill to become its new global head of infrastructure following the departure of Annesley Wallace in May. (Infrastructure Investor)

Lithium-ion batteries are bankable, but may run out of charge: Asset degradation, supply chain difficulties, grid setbacks and rapidly developing alternative technologies make these assets riskier than they appear. (Infrastructure Investor)

Banner Ridge Partners has reached the $2 billion hard-cap of its latest flagship secondaries fund, Secondaries Investor understands.

Gutter Capital, which debuted in the spring with backing from an impressive list of investors, is back in market three months later raising its sophomore fund. (Venture Capital Journal)

The majority of market-rate impact investors are taking measures to preserve the positive impact of assets after they have exited, according to research on impact measurement and management from the Global Impact Investing Network. (New Private Markets)

Border to Coast, which manages a pool of more than £40 billion ($51 billion; €47 billion) on behalf of UK local government pension schemes, has committed capital to a number of private markets climate funds from its £1.35 billion climate opportunities allocation. (New Private Markets)