Acquisition to Accelerate Growth and Innovation in the Juvenile Products Sector
London July 22, 2024 – Mubadala Capital, the wholly owned asset management subsidiary of Mubadala Investment Company, has announced an agreement with Bain Capital to acquire a majority stake in Bugaboo Group, a global market-leader in strollers and premium children’s consumer products. Bain Capital will retain a minority stake. The transaction is subject to works council consultation and customary regulatory approvals. Other terms of the deal were not disclosed.
For 25 years, Bugaboo has been synonymous with innovation, design, and quality, transforming the juvenile products category with its premium strollers, carriers, and other parenting solutions. The acquisition by Mubadala Capital marks the beginning of a new era for Bugaboo, presenting an opportunity to further its mission of providing safe, innovative, and design-first products to families worldwide. Under Mubadala Capital’s new ownership, Bugaboo will continue to expand into growth markets and strengthen its position as a consolidator in the fragmented baby products industry, with the objective of creating the global leader in the juvenile products space.
This acquisition underscores Mubadala Capital’s dedication to investing in innovative companies that deliver exceptional value to its customers and shareholders. Antoun Ghanem, Executive Director and Head of Mubadala Capital’s European Private Equity Team commented: “Bugaboo’s unwavering commitment to parents, children and product innovation align seamlessly with our investment philosophy, which is predicated on investing in great companies that are run by even better management teams. We have been waiting for the right opportunity in the juvenile products space to leverage Mubadala Capital’s extensive scale and global network to further elevate Bugaboo to a leading position in the children’s product and services ecosystem.”
Bugaboo CEO Adriaan Thierry added “Over the last five years, we have almost doubled revenues due to both organic growth and the successful acquisition and integration of complementary brands in the worldwide juvenile products market. With Mubadala Capital’s support, our brand and product design, our teams, and our business partners are poised for the next phase of our growth and development into new markets. Most importantly, this partnership will bring great benefits for our customers – current and future generations of parents and children.”
“It has been a pleasure working with Adriaan and his team to transform Bugaboo by strengthening its leadership position in premium strollers and also becoming the first global player in the juvenile products sector to achieve B Corp status, gaining international recognition for Bugaboo’s commitment to social and environmental performance. We look forward to partnering with Mubadala Capital and continuing this journey with Bugaboo,” said Nigel Walder, a Partner and Head of Bain Capital’s European Consumer Team.
Advisors
Debt financing for the transaction is being provided by Citi, First Abu Dhabi Bank, and Natixis Corporate & Investment Banking (London Branch), as the Arrangers and Underwriters. Citigroup Global Markets Limited served as financial advisor to Mubadala Capital, while Barclays Bank Ireland PLC, acting through its Investment Bank (“Barclays”) and Robert W. Baird Limited (“Baird”) acted as financial advisors to Bugaboo Group (an investment company of Bain Capital).
About Bugaboo
Bugaboo designs award-winning strollers and parenting solutions, helping families to create endless moments of fun and discovery every step of the way. After kickstarting a stroller revolution 25 year ago, Bugaboo continues to innovate across its range of products including strollers, car seats, travel cots and accessories. Bugaboo is B Corp certified having demonstrated the high standards of social and environmental performance, accountability, and transparency, set by B Lab™. Every product is designed against the highest standards to be comfortable, durable and easy to use, so that parents and children can enjoy endless moments of discovery, no matter where their adventures take them.
About Bain Capital
Bain Capital has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital's global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $185 billion in total assets and leveraging the firm's shared platform to capture opportunities in strategic areas of focus.
About Mubadala Capital
Mubadala Capital is the wholly owned asset management subsidiary of Mubadala Investment Company, a c. $302 billion global sovereign investor headquartered in Abu Dhabi, UAE. Mubadala Capital manages c. $24 billion in aggregate across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors, including four flagship private equity funds, four early-stage venture funds, three funds in Brazil focused on special opportunities and a highly diversified evergreen investment strategy focused on private market opportunities, as well as a series of co-investment vehicles, SPVs and continuation funds.
