Houlihan Lokey Advises Joolz Holding

Houlihan Lokey is pleased to announce that Joolz Holding BV (Joolz), a portfolio company of Gimv NV, has agreed to be acquired by Bugaboo International BV (Bugaboo), a portfolio company of Mubadala Capital (RS) Ltd. (Mubadala). The transaction was signed on 22 May 2025, with closing subject to customary works council consultation and regulatory approvals.

Founded in 2004, Joolz is one of the world’s fastest-growing premium baby products brands, specialising in strollers, buggies, and related accessories. Joolz is a leader in its domestic Dutch market, with strong positions across Europe and a rapidly scaling broader international presence across the Middle East, Asia-Pacific, and the U.S. Joolz has a core portfolio of four high-quality and iconic models, the Aer, Day, Geo and Hub, and has won numerous awards for product design (including Red Dot and iF design awards). Joolz’s products are sold via an omnichannel distribution model, including through leading retailers, distributors, its own B2C website, and via online marketplaces. The Joolz brand is highly distinctive, forming a unique emotional connection with its customer base through innovative and engaging marketing. Sustainability is at the core of the brand, with B Corp. certification pending and a number of ESG-led initiatives, including sustainable materials, lifetime product design, and a tree planting initiative for each stroller sold. With a team of 125 Joolzers, Joolz is based in Amsterdam, Netherlands. Joolz has been minority owned by Gimv since 2016.

Gimv is a listed European investment company headquartered in Antwerp, Belgium. Partnering with entrepreneurial companies across the consumer, healthcare, life sciences, industrials, technology, and sustainable cities subverticals, Gimv currently manages a portfolio of c. 60 companies with a combined turnover of c. €4 billion and more than 20,000 employees. In addition to its headquarters in Belgium, Gimv has offices in The Hague, Paris, and Munich.

Founded in 1996, Bugaboo is a global leader in premium juvenile products, offering premium strollers, car seats, highchairs, and other parenting solutions. Bugaboo has successfully expanded from its strong Dutch heritage to become a truly global brand, with a growing presence in the U.S., Asia-Pacific, and other regions. Products are manufactured at an in-house facility based in Xiamen, China, and are distributed to leading retailers, via its own B2C site and via marketplaces. As a sign of its commitment to ESG, Bugaboo was the first global player in the juvenile products sector to achieve B Corp. certification. Bugaboo is headquartered in Amsterdam, Netherlands, and has a global team of >1,050. Bugaboo has been majority owned by Mubadala since 2023, which acquired the business from Bain Capital.

Together, Joolz and Bugaboo will form a global premium stroller and parenting products platform. By combining their engineering, technology, and consumer durables design capabilities, the combined company will continue to lead the market in product performance, innovation, and sustainability. The brands will continue to operate independently post-transaction, with the group benefiting from their distinct and complementary positioning. The combined company will have a total of c. 1,200 employees.

Established in 2011, Mubadala is the alternative asset management subsidiary of Mubadala Investment Company, a c. $330 billion global sovereign investor headquartered in Abu Dhabi. Mubadala manages more than $27 billion in assets, which includes $18 billion from global institutional investors such as sovereign wealth funds, endowments, foundations, public pension funds, insurance companies, high-net-worth individuals, and other asset managers.

Houlihan Lokey served as the exclusive financial advisor to Joolz throughout the transaction. This transaction strengthens Houlihan Lokey’s leadership in the consumer products and retail sectors, in particular building on prior successes in the mum and baby sector, which include advising on transactions involving Smyk, Woom, Lässig, Thinkbaby, Mommy’s Bliss, JAKKS Pacific, Zarbee's, and Urban Fruit. This transaction also underpins Houlihan Lokey’s leading position in the Benelux.

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