Babson Provides Debt, Equity to Support Baby Jogger Recap
Babson Capital Management, an investment management firm based in Springfield and Boston, MA, and Charlotte, NC, announced it provided $18.4 million of subordinated notes and $1.5 million of equity to support The Riverside Company’s investment in The Baby Jogger Company(TM).
Riverside partnered with management to recapitalize Richmond, VA-based Baby Jogger, a global brand name in the infant and juvenile products industry specializing in designing and manufacturing high-performance strollers, bicycle trailers and related accessories.
“Our long relationship spans more than a decade and numerous successful investments, and Babson Capital has proven itself to be a value-added partner both as a lender and an investor,” said Riverside Partner Karen Pajarillo. “The familiarity and trust we have developed translates into an ease of working together that enabled us to complete the recapitalization of Baby Jogger on an expedited timeline.”
“Baby Jogger is a market-leading brand with a strong management team and a demonstrated ability to successfully launch new products,” said Mike Klofas, managing director and head of the Mezzanine and Private Equity Group at Babson Capital. “Riverside’s expertise in branded consumer products will help the company achieve its exciting growth potential. Babson Capital is pleased to partner with The Riverside Company once again, and we look forward to working together on future investments soon.”
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million.
Previously on abfjournal.com: