Babson Capital Management provided $18.4 million of subordinated notes and $1.5 million of equity to support The Riverside Company’s investment in The Baby Jogger Co. Riverside partnered with management to recapitalize the Richmond, Va.-based company, which makes high-performance strollers and bicycle trailers.
Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today 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™.
Riverside partnered with management to recapitalize Richmond, Va.-based Baby Jogger, a leading 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.”
About The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 275 transactions. The firm’s international portfolio includes more than 75 companies, and it has $3.2 billion/€2.5 billion in assets under management.
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $142.8 billion in assets under management as of March 31, 2012. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn., and Wood Creek Capital Management, LLC in New Haven, Conn.