Mubadala Buys Majority Stake in Bugaboo
Mubadala Capital, the wholly owned asset management subsidiary of Mubadala Investment Company, has signed an agreement with Bain Capital, an American private investment firm, 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 and the transaction is subject to works council consultation and customary regulatory approvals.
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, said that Bugaboo’s unwavering commitment to parents, children and product innovation align seamlessly with Mubadala’s 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,” Ghanem added.
Revenues Doubled
Bugaboo CEO Adriaan Thierry said that over the last five years, Bugaboo has 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,” Thierry said.
Debt financing for the transaction was 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 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.
