Provider of baby sleep solutions
Mobeus sold The Gro Company, a market leader in baby safe sleep products, for an enterprise value of £22 million.
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..
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.
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%.
Bob Henry led the original deal for Mobeus. Guy Blackburn sat on the board during the term of the investment and led the exit.
- Consumer Products
- Management Buyout
- January 2018
- Bob Henry