Houlihan Lokey Advises IK Partners

Houlihan Lokey is pleased to announce that Forthglade Foods Ltd. (Forthglade), a portfolio company of IK Investment Partners Ltd. (IK Partners), has been acquired by Assisi Pet Care Group Ltd. (Assisi), a portfolio company of Wind Point Partners (Wind Point). The transaction was signed and closed on 16 July 2026.

Founded in 1971 and headquartered in Okehampton, Devon, Forthglade is one of the U.K.’s leading premium natural pet food brands, specialising in high-quality, minimally processed wet and dry dog food and natural treats. Operating out of its state-of-the-art manufacturing facility in Devon, the company has established a highly diversified omnichannel distribution model across major grocery retailers, independent specialist pet stores, and a fast-growing online platform spanning both direct-to-consumer and third-party online channels. IK Partners acquired a majority stake in Forthglade in August 2020 through its IK Small Cap II Fund. Since then, and under the leadership of CEO David Cox, Forthglade has doubled revenues, significantly expanded its production capacity, accelerated its digital commerce footprint, and scaled its product offering across wet and dry food, treats, and supplements.

IK Partners is a European private equity firm focused on investments in the Benelux, DACH, France, Iberia, the Nordics, and the U.K. Since 1989, IK Partners has raised more than €20 billion of capital and invested in over 210 European companies. IK Partners supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects.

Headquartered in London, Assisi is one of Europe’s leading premium natural pet care platforms, bringing together high-quality dog and cat food and treats brands under one roof. Assisi operates manufacturing facilities in the U.K. and Poland, serving specialist pet, grocery, and e-commerce customers across Europe.

Wind Point is a Chicago-based private equity firm focused on investing in middle-market businesses across the consumer, business services, and industrial sectors. Founded in 1984, Wind Point has approximately $9 billion of assets under management and has completed more than 90 platform investments and over 400 add-on acquisitions.

Houlihan Lokey served as the exclusive financial advisor to IK Partners, assisting in the structuring and negotiation of all key aspects of the transaction. The transaction further reinforces Houlihan Lokey’s strong track record in the pet sector, having advised on the growth investments in KatKin, led by Volt, and Butternut Box, led by General Atlantic, as well as the sales of Prime100 to Hill’s, Whitebridge Pet Brands to General Mills, FoodScience to Morgan Stanley Capital Partners, Butcher’s to IPN, Jollyes to TDR Capital, Pet Food U.K. Limited to IPN, Lily’s Kitchen to Nestlé Purina and Tails.com to Nestlé Purina among others.

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