Sale to Strategic Partner is Logical Next Step to Build on
Significant Growth and Product Diversification of Premium Infant and
Toddler Lifestyle Brand
BOSTON–(BUSINESS WIRE)–Fireman Capital Partners (“FCP”), a consumer-focused growth equity firm,
today announced that it has sold its portfolio company Skip Hop, Inc.
(“Skip Hop”), a leading provider of branded products and accessories for
parents, babies and kids worldwide, to Carter’s, Inc. (“Carter’s”)
(NYSE:CRI) for $140 million in cash, plus future performance incentives.
FCP acquired a majority stake in Skip Hop in November 2013.
Skip Hop, founded in New York City in 2003 by Ellen & Michael Diamant,
is one of the fastest growing and most recognized global brands for
parents, babies and toddlers worldwide. Their core philosophy begins and
ends with “Must-Haves Made Better.” The company designs innovative,
functional products that make parenting easier, better and more fun.
Product categories include Diaper Bags, On-the-Go Accessories, Infant
Toys, Nursery Gear, Bath, Feeding and the ZOO line of toddler products.
Skip Hop products are sold at over 5,000 doors in the U.S. and Canada
and in over 60 countries worldwide.
Dan Fireman, Managing Partner of FCP, said, “Skip Hop is a dynamic,
market leading company with unique and innovative products. We are proud
to have partnered with Michael and Ellen in helping extend the Company’s
product portfolio, build their distribution network, expand
internationally and further its online presence. We wish them continued
“Skip Hop was a great investment for our firm, and we are thrilled to
have been able to leverage our resources and operational expertise to
help the company grow,” added Marla Sabo, Partner at FCP. “It has been a
pleasure working with the entire Skip Hop organization and we are
confident they have a bright future ahead under Carter’s leadership. We
are happy to have found the perfect fit for the Company and its talented
Michael Diamant, Co-Founder and Chief Executive Officer of Skip Hop,
said, “Fireman Capital’s track record in the consumer space and vision
for our company was immensely helpful as we developed Skip Hop into the
market leader it is today. We thank the firm for their support and look
forward to further growth as part of the Carter’s team.”
McDermott Will & Emery LLP acted as legal advisor to Fireman Capital
Partners. Harris Williams & Co. served as the exclusive financial
advisor to Skip Hop.
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 30MUSD and
150MUSD, who also have a unique vision, strong product and market share,
and sound management. FCP leverages its capital, extensive network, and
deep operating expertise to add substantial value. The firm is currently
invested in Oskar Blues Brewery Holdings, Newton Running, Idea Paint,
and Surfside Coffee Company, with realized investments in Hudson Jeans,
Evolution Fresh, and Serena and Lily, in addition to Skip Hop.
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.
Media Contacts for FCP:
Sard Verbinnen & Co
Brown/Jared Levy/Julie Rudnick