Maui baby products maker Ergo purchased for $91 million
Maui-based baby products maker Ergo Baby Carrier Inc. has been purchased by Compass Diversified Holdings.
Compass said Friday that the enterprise value of the deal was $91 million. The company’s news release didn’t specify what it paid for its initial 84 percent stake in the company.
Based in Pukalani, Ergo is known for its wearable baby carriers and other items. Its products are sold at more than 700 U.S. retailers and online and in approximately 20 countries.
Compass said it used its revolving credit facility to pay for the deal and will incur about $1.9 million in acquisition costs.
As Compass acquires an 84 percent stake in Ergo, Ergo’s former owner and some other investors will retain the remaining 16 percent stake.
GO MAUI BABY MAKERS!!