An Oxford-based pet accessories brand has secured a £33million minority investment from private equity firm Piper.
Omlet was founded in 2004 by James Tuthill, Johannes Paul, William Windham and Simon Nicholls, who met at the Royal College of Art in London where they completed a postgraduate course in industrial design engineering.
In their final year they developed the Eglu, a new chicken coop designed to make raising chickens in any backyard “easy and fun”.
More than 125,000 Eglus have been sold to date and they have housed the hens of broadcaster Chris Evans, Pastry shop winner Nadiya Hussein and actor John Cleese.
With sales expected to reach £40m this year, Omlet is well positioned to capitalize on a number of key consumer trends that have driven growth in the pet industry.
This is Piper VI’s eleventh investment and its fourth in the pet business, having backed Forthglade, Barking Heads and Bruce’s.
James Tuthill, co-founder of Omlet, said: “We are incredibly proud of what we have achieved so far with Omlet. Simon, Will, Hanns and I loved every minute of this trip.
“We believe Piper is the perfect partner to work alongside us as we achieve our shared ambition of making Omlet the world’s leading premium pet care brand.”
Rory Gibbs, Piper’s Chief Investment Officer, added: “We are delighted that the Omlet team has chosen Piper as their preferred partner and we are excited about the growth opportunities the company has identified, in an industry we understand well. Their unique and thoughtful product designs are highly praised by customers around the world.
“We look forward to supporting the team and look forward to working again with Don Henshall, former Managing Director of Farrow & Ball, who will join the company as Chairman.”
Burges Salmon’s Corporate Finance team advised Omlet.