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3i-backed baby products company Mayborn arranges £90m debt facility

3 Jan 2013

3i portfolio company Mayborn, a manufacturer and distributor of baby products under the Tommee Tippee brand, has refinanced its debt, with £90m of new facilities.

The debt was provided by a syndicate of banks comprising both existing and new lenders to the business including Bank of Ireland, Barclays, GE Capital, ING, Lloyds and Santander.

The company has doubled its EBITDA since 3i’s investment in 2006 and undergone “significantly deleveraging”. In the first ten months of 2012 it saw a 17 per cent growth in revenue compared to the previous year.

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