- Bain Capital invested in Bugaboo in 2018
- Mubadala Capital is the asset management subsidiary of Mubadala Investment Company
- Bain Capital manages around $185bn in total assets
Mubadala Capital has agreed to acquire a majority stake in Bugaboo Group, a Dutch global strollers and children’s consumer products manufacturer, from Bain Capital.
Bain Capital will retain a minority stake.
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 to create a global leader in the juvenile products space, according to a release.
Bain Capital invested in Bugaboo in 2018.
“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,” said Nigel Walder, a partner and head of Bain Capital’s European consumer team, in a statement.
The transaction is subject to works council consultation and customary regulatory approvals.
Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing around $185 billion in total assets.
Mubadala Capital is the wholly owned asset management subsidiary of Mubadala Investment Company, a around $302 billion global sovereign investor headquartered in Abu Dhabi. Mubadala Capital manages around $24 billion in aggregate across its own balance sheet investments and in third-party capital vehicles on behalf of institutional investors.
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 served as financial advisor to Mubadala Capital, while Barclays Bank Ireland, acting through its Investment Bank (Barclays) and Baird acted as financial advisors to Bugaboo Group.