Babson Capital Backs Riverside Investment in Baby Jogger
Springfield -- 05/16/2012 --
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 Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $181 billion in assets under management as of March 31, 2013. 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 in New Haven, Conn. Babson Capital is a member of the MassMutual Financial Group.