Riverside Strolls Off With Another Deal October 16, 2013
Baby Jogger Adds to Product Offerings
The Riverside Company added NJoy Baby S.L. (NJoy), a designer, developer and marketer of strollers and related accessories, to its Baby Jogger platform.
Baby Jogger was the original inventor of the three-wheeled jogging stroller in 1984 and today is a global designer and leading manufacturer of urban and all-terrain strollers, joggers, bicycle trailers, and accessories, including the popular City Mini, City Select, and Summit X3 models.
Founded by a group of engineers, NJoy offers unique products in the infant and juvenile space. Based in Barcelona, Spain, NJoy is best known for its innovative reversible umbrella stroller which allows the child to face forwards or face the parent. The company boasts several patents and immediately enhances Baby Jogger’s strong and functionally-unique product line.
“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.”
Baby Jogger is looking forward to adding the umbrella stroller product line to round out its current portfolio and delight more parents around the world. Baby Jogger plans to sell NJoy products under the Baby Jogger brand and through its existing domestic distribution channels as well as through its broad international sales and distribution network, which provides access into more than 50 countries.
Other Riverside members working with Phing on the transaction were Operating Partner David Gold, Partner Karen Pajarillo, Senior Associate Justina Wang and Associate Surejdip Sembiring. Partner Anne Hayes helped with credit agreement amendment negotiations on the deal. In addition Managing Director, Origination Juan Barnechea and Senior Associate Jaime Escribano provided key assistance on the deal from Riverside’s European offices.
Jones Day provided legal counsel to Riverside on the transaction.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 320 transactions. The firm’s international portfolio includes more than 70 companies.