Clearwater International advises on the sale of TrustedHousesitters to Mayfair Equity Partners
Clearwater International, working together with our US partner KeyBanc Capital Markets, have advised the shareholders of TrustedHousesitters, a global category defining subscription-based pet-sitting and travel community, on its sale to Mayfair Equity Partners (Mayfair). The sale marks an exit for investor Rockpool, who will also be reinvesting alongside Mayfair. The transaction values the business at over $100m.
TrustedHousesitters is the leading travel solution for pet people which connects pet owners with pet sitters around the world. Pet owners can find verified sitters to look after their pets while they’re away from home and, in return, sitters are able to visit destinations across the globe for a unique and rewarding travel experience.
Since its founding in 2010, the company has facilitated over 10 million nights of pet sitting, has grown its operations to more than 140 countries and saves pet owners and travellers millions of pounds annually in accommodation and pet care costs.
Mayfair is partnering with Mathew Prior, TrustedHousesitters' CEO, and the management team to accelerate growth and support product innovation across its core markets in the US, the UK, Europe, and Australia. Mathew joined TrustedHousesitters in 2019, bringing over 30 years of experience in the travel industry to the company from his roles at Travelopia and TUI plc.
TrustedHousesitters recorded 158% year-on-year growth in 2022, supported by a rising pet population, the accelerated digitisation of pet services and a return of travel. TrustedHousesitters’ unique combination of a pet-loving community, reliability, and adventure delivers a memorable experience every time for pet owners and sitters. This leads to exceptional customer satisfaction scores which in turn drive recommendations, with more than 60% of customers hearing about TrustedHousesitters via word of mouth.
Alongside the UK team, Clearwater International was supported by US partner KeyBanc Capital Markets, led by Managing Director Tom Mazzucco and Director Jonathan Kline.