Fireman Capital Partners has acquired a majority stake in Skip Hop. Financial terms weren’t announced. Skip Hop founders Michael and Ellen Diamant will retain a meaningful ownership stake, and will continue to lead the company. New York-based Skip Hop is a lifestyle brand that serves the infant and toddler industry with both soft and hard line products. ROTH Capital Partners provided financial advice to Skip Hop.
Boston, MA – November 22, 2013 – Fireman Capital Partners (“FCP”), a consumer-focused growth equity firm, today announced that it has acquired a majority stake in Skip Hop Inc. (“Skip Hop”), a premium cross-category lifestyle brand serving the infant and toddler industry with both soft and hard line products. Skip Hop founders Michael and Ellen Diamant will retain a meaningful ownership stake, and will continue to lead the company. Terms of the transaction were not disclosed.
Based in New York City, Skip Hop was founded in 2003 by husband and wife team Michael and Ellen Diamant. Skip Hop is widely recognized for its range of innovative and functional products that target today’s savvy, discerning parents. The Company’s products are differentiated by their modern, creative aesthetic and have won numerous industry awards for their product design and quality. Skip Hop offers a wide range of products, including Diaper Bags, On-the-Go Accessories, Soft & Wooden Toys, Bedding, Bath Time, Feeding, and the ZOO line of toddler products. The company’s products are sold at over 4,000 retail doors in the U.S. and in over 60 countries worldwide.
Dan Fireman, Managing Partner of FCP, said, “Skip Hop creates truly innovative products that are original, fresh and with a contemporary aesthetic. While successfully expanding its product suite and distribution channels, Skip Hop has proven the strength of its brand and the authenticity of its products. We are delighted to be partnering with this dynamic company.”
Marla Sabo, Partner at Fireman Capital, said, “We look forward to collaborating with Michael and Ellen to support the further development and growth of Skip Hop. The company has tremendous momentum. We plan to leverage our resources and operational expertise to assist Skip Hop in accelerating the build of the company’s product platform and distribution.”
Michael Diamant, Co-Founder and Chief Executive Officer of Skip Hop, said, “Ellen and I – and the rest of the Skip Hop team – are thrilled to be partnering with Fireman Capital Partners. FCP has a proven track record in the consumer space, and their vision for Skip Hop is perfectly aligned with ours. We are very excited to have the resources and added experience to help take Skip Hop to the next level – all while retaining our focus on making great product.”
McDermott Will & Emery LLP acted as legal advisor to Fireman Capital Partners. ROTH Capital Partners, LLC provided financial advice to Skip Hop, and Goodwin Procter LLP acted as legal advisor.
About Fireman Capital Partners (FCP)
Fireman Capital Partners invests in consumer-focused companies through both growth equity and buyout transactions. The private equity firm focuses on dynamic consumer businesses with revenues between $20 and $150 million, and who have a unique vision and strong management. Fireman Capital leverages its capital, extensive relationships, and deep operating expertise to add substantial value.
About Skip Hop
Skip Hop Inc. is a New York City company devoted to designing innovative products for moms and dads. The company understands the challenges faced by today’s parents as they are adjusting to their new lives. They study how families use existing parenting products, and armed with this knowledge, create smarter, more innovative solutions that combine advanced functionality and modern design. The result is a variety of exciting essentials that make day-to-day living easier (and better!) for today’s moms and dads. For more information on Skip Hop please visit www.skiphop.com.