05 Jan 2018
Momentum Corporate Finance announces the successful completion of its most recent transaction, advising Mobeus Private Equity (“Mobeus”) and management on the sale of Gro-Group Holdings Limited (“The Gro Company”) to Mayborn Group Limited (“Mayborn”).

Founded in 2000, as the result of two parents’ battle to get their baby to sleep at night, The Gro Company was responsible for the UK’s original and now internationally renowned baby sleep bag, the Grobag.  The Gro Company has since expanded to become the UK’s leading baby sleep brand, offering a range of ‘must-have’ products for new-borns, including the life changing Groclock which has become so popular that one is sold every three minutes worldwide.

The acquisition provides Mayborn, the business behind the global super brand ‘Tommee Tippee’, with an additional iconic baby brand and an expanded and complimentary product range.  Products are sold through the same retail channels, and targeted at the same consumer base, thus enabling The Gro Company to accelerate its international growth further.

Momentum have worked with the Gro Company since 2010 and advised on the original sale to management and Mobeus in 2013.  The transaction represents an excellent outcome for the shareholders of The Gro Company and is a compelling and strategically important acquisition for Mayborn.

The Gro Company will continue to operate from its current offices in Exeter, UK where most of its 38 employees are based.

“It has been a pleasure working with the team at Momentum again, who provided calm and clear advice throughout the process.  The partners’ personal involvement and guidance was invaluable in achieving an excellent result for the shareholders.

 
I would highly recommend Momentum to any shareholders seeking to maximise the value of their business – the team did a great job.”

Dave Gough, Chief Operating Officer of The Gro Company

“This investment has proved to be a great success.  In the last four years everyone involved has worked hard to ”Gro” the business, whilst continuing to place product excellence and customer trust at the heart of everything we do.

 
We enjoyed working with the team at Momentum again.  Their long run approach, understanding of the sector and partner led advice added significant value to the sale process.”

Guy Blackburn, Mobeus Investment Director
“The Gro Company has a fantastic range of well-loved and respected products which help parents get babies to sleep safely.  It shares a number of synergies with our Tommee Tippee brand and we believe that we can use our global position to help grow this business dramatically and bring Gro’s sleep-time solutions to parents around the world.”
Steve Parkin, Chief Executive Officer of Mayborn Group

“It was great to work with the shareholders of The Gro Company again.  Our guiding philosophy is to provide best long-term advice, so having worked with the business since 2010 and advised on the original sale to Mobeus in 2013, it was particularly pleasing to work with the team again on the successful exit to Mayborn.

 
There is an excellent strategic fit between The Gro Company and Mayborn we look forward to seeing the business continuing to flourish under its new ownership.”

Rob Crews, partner at Momentum Corporate Finance