Blue Sea Capital Buys CompletePet, Its Second Pet Bet

A private equity firm has built a second platform in pet health, and the newest piece runs a Miami factory most pet owners have never heard of. Blue Sea Capital acquired CompletePet, a contract manufacturer of pet wellness products, from Align Capital Partners on August 31st, adding a manufacturing platform alongside the veterinary services business it already owns.

Blue Sea Capital acquires CompletePet from Align Capital

Align Capital Partners announced the sale of CompletePet to Blue Sea Capital on August 31st. Terms were not disclosed.

CompletePet formulates and manufactures soft chews, topical liquids and sprays, dental products, oils, and powders for pet supplement brands, operating two facilities totaling more than 350,000 square feet with over 500 employees. The company traces back to Custom Veterinary Services, which Align Capital Partners backed starting in 2021 before it acquired Green Mountain Animal in 2025 and rebranded as CompletePet. At the start of Align's ownership, the business ran a single 55,000-square-foot facility with roughly 125 employees.

"CompletePet's growth from a single 55,000-square-foot facility with just over 125 employees into a diversified platform with more than 350,000 square feet of capacity and over 500 team members is a tremendous accomplishment," said Jack Parks, an Align Capital Partners partner.

Worth Turner, CompletePet's chief executive, called Align "the ideal partner to build on that legacy" while the company "transformed CompletePet into a stronger, more scalable organization."

Why this signals consolidation in pet contract manufacturing

CompletePet sits on the supply side of the DTC pet supplement boom, assembling and packaging chews and topicals for brands that never touch a factory floor themselves. That business model has been under quiet pressure as some of its potential customers choose the opposite path.

Spot & Tango, for one, has put more than $40 million into its own Allentown, Pennsylvania manufacturing plant rather than lean on a contract manufacturer, a bet that owned production delivers better margins and tariff insulation once a DTC brand clears roughly $100 million in revenue. Every brand that follows that playbook is one fewer large account available to a platform like CompletePet.

Against that backdrop, private equity ownership becomes less about growth capital and more about scale and differentiation. A contract manufacturer serving mid-size supplement brands that haven't yet hit the threshold to justify owning a plant still has a real market, but it's a market where volume and specialized capability, like the topical, dental, and custom-format lines CompletePet has added since 2021, matter more than being simply the cheapest co-packer available.

Blue Sea Capital's own portfolio adds a second layer to the thesis. The firm already owns Heritage Vet Partners, a mixed and large-animal veterinary services and pharmaceutical products platform, making CompletePet its second bet inside the broader animal-health category rather than an opportunistic one-off. Pairing a manufacturing platform with a veterinary services and pharmaceutical distribution business gives Blue Sea two separate points of contact across the animal-health supply chain, from the products that get made to the practices that prescribe and dispense them.

Demand on the branded side keeps growing the market Blue Sea just bought into. Retailers have been actively courting DTC wellness brands for shelf space, landing two premium supplement brands inside a single 72-hour stretch earlier this year. Every new brand that wins that kind of placement needs someone to manufacture the product behind it, and a scaled platform like CompletePet is positioned to capture that demand whether or not any single brand ever builds its own plant.

The pattern also echoes what's already played out in pet hard goods, where Outward Hound just changed private equity owners for the third time in under a decade as the category's earlier buyers looked to exit aging investments. Contract manufacturing in pet supplements looks to be entering the same cycle: assemble scale through bolt-ons, as Align did with Green Mountain Animal, then exit to a buyer with an adjacent thesis to build on.

What Blue Sea's dual pet-health platform could do next

The clearest signal to track is whether CompletePet resumes the bolt-on strategy that built it, adding a third facility or a new product category the way Green Mountain Animal expanded its topical and dental lines in 2025. Align built the platform that way. There's no reason to expect Blue Sea would abandon a playbook that already worked.

Also worth tracking is whether Blue Sea finds ways to connect CompletePet and Heritage Vet Partners commercially, whether through shared distribution relationships, cross-referrals, or simply presenting them together to prospective portfolio additions as a combined animal-health platform rather than two separate holdings.

The broader supplement-manufacturing sector bears attention too. If more DTC brands follow Spot & Tango toward owned production once they clear meaningful revenue, contract manufacturers will need to either consolidate into larger platforms like CompletePet or specialize in categories, like custom formats and topicals, that are harder to bring in-house. Expect more private equity activity in this corner of the supply chain before the category settles into a smaller number of larger platforms.

Source: Align Capital Partners via Business Wire