Gro

Provider of baby sleep solutions

gro.co.uk

Mobeus sold The Gro Company, a market leader in baby safe sleep products, for an enterprise value of £22 million.

THE BUSINESS

Award-winning The Gro Company invented the Grobag Baby Sleep Bag, approved by The Lullaby Trust. Having sold over three million Grobags worldwide, Gro is known as the 'official baby sleep bag' brand and has expanded its product range across nursery care and sleep solutions..

THE DEAL

Mobeus backed the MBO of Gro from the original founders in March 2013, investing £7.1m as a Combined Debt and Equity package. Mobeus worked alongside the management team to professionalise and expand the business, introducing Chairman Jules Hydleman with a strong record in consumer brands. The business was sold to Mayborn Group, the owner of the tommee tippee brand for £22m.

THE IMPACT

Following the MBO, Gro launched a range of new products and expanded internationally. It now sells in more than 25 countries. The exit represented a total return of over 2x money and an IRR of over 20%.

THE PEOPLE

Bob Henry led the original deal for Mobeus. Guy Blackburn sat on the board during the term of the investment and led the exit.

Information

Bob Henry
Sector:
Consumer Products
Type:
Management Buyout
Status:
Realised
Date:
January 2018
Leader:
Bob Henry