Daily News: April 24, 2012

Riverside Partners With Baby Jogger Management in Company Recap


The Riverside Company has partnered with management to recapitalize Baby Jogger, a designer and marketer of branded infant and juvenile products focused on baby strollers, bicycle trailers and related accessories. U.S. Bank, Huntington and Babson provided financing for the transaction.

Founded in 1984, the Richmond, VA company has built a strong reputation thanks to its full line of award-winning and functional products designed for active parents. The company has a proven track record of innovation, quality, and safety. Baby Jogger has emerged as the brand of choice in the infant and juvenile products category.

Baby Jogger’s products are differentiated by patented design innovations, including its Quick-Fold technology, the easiest one-step folding system for strollers. The company continues to expand its market share and sells its products in more than 50 countries around the world.

“Baby Jogger has earned its place in the hearts of customers,” said Riverside partner Karen Pajarillo. “Its combination of safety, convenience and performance have driven high customer satisfaction and helped continuously increase demand. “We are excited to partner with management to accelerate Baby Jogger’s already impressive growth. Its new product pipeline is full, and it is continuing to increase points of sale both domestically and internationally. We will help the company expand its product line, and will use our operating expertise and global resources to support growth initiatives.”

Working with Pajarillo for Riverside on the transaction were operating partner David Gold, operating executive Mike Skelton, vice president Meranee Phingbodhipakkiya, vice president Marty Graul, senior associate Mark Donnelly, associate Kevin Kumar and associate Drew Flanigan. The deal was sourced by Jim Butterfield of Riverside’s Origination group.

Harris Williams & Co. acted as exclusive financial advisor to Baby Jogger. The transaction closed on April 20, 2012 and was led by John Neuner, Brent Spiller and Chip Duggins from the firm’s Richmond office.

“We are excited to help the Baby Jogger management team find a partner that shares their vision for the company’s future and tremendous growth opportunities. Baby Jogger is truly an innovative market leader, and we look forward to following the continued success of the business as they grow and expand the great infant and juvenile products platform they have built,” said John Neuner, a managing director at Harris Williams.

Jones Day provided legal counsel to Riverside on the transaction.

The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million.