“NJoy fits really nicely with Baby Jogger’s core strengths,” said Riverside Principal Meranee Phing. “Both companies are innovative and able to respond quickly to the dynamic needs of the market. We’re thrilled to be adding NJoy’s high-quality products and strong design capabilities.”
NJoy is a designer, developer and marketer of infant and juvenile strollers. The company is best known for its reversible umbrella stroller which allows the child to face forwards or face the parent. NJoy is based in Barcelona, Spain (www.njoybaby.com).
Baby Jogger is a designer and marketer of branded infant and juvenile products focused on baby strollers, bicycle trailers and related accessories. The company was founded in 1984 and is based in Richmond, VA (www.babyjogger.com).
Baby Jogger plans to sell NJoy products under the Baby Jogger brand and through its existing domestic distribution channels as well as through its international sales and distribution network, which provides access into more than 50 countries.
Other Riverside members working with Ms. Phing on the transaction were Operating Partner David Gold, Partner Karen Pajarillo, Senior Associate Justina Wang and Associate Surejdip Sembiring. In addition Managing Director, Origination Juan Barnechea and Senior Associate Jaime Escribano provided assistance on the transaction from Riverside’s European offices.
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 320 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-16-13