Carvalho, Inês Lopo deBernardo, António MiguelRaddue, Maximilian Ralph2025-08-282025-08-282025-01-142024-12-17http://hdl.handle.net/10362/187042The European pet care market, encompassing pet food, accessories, and veterinary services, has grown significantly to £69bn, with macroeconomic and market trends indicating sustained expansion. This paper evaluates the strategic attractiveness of a private equity investment in Pets at Home (PaH), a leading player in the sector. It outlines five key value creation levers, supported by detailed financial projections, operational enhancements, and a comprehensive LBO model. The analysis concludes with a well-defined exit strategy via IPO. The individual component provides a detailed valuation analysis, triangulating a DCF, SoTP, trading comparables, and precedent transactions to determine PaH’s value.engPrivate equityPets at HomeBuyoutValuationRetailmaster thesis203991770