Nursery brand Mamas & Papas receives funding package from OakNorth to help it grow
Summary
Founded in 1981 by David and Luisa Scacchetti, and headquartered in Huddersfield, West Yorkshire, Mamas & Papas is a designer, wholesaler, and retailer of nursery and baby products including travel systems, nursery furniture and childrens clothing.It also operates in 23 countries through wholesale channels. Initially a family-owned business, Mamas & Papas was acquired in 2014 by OakNorths customer, Bluegem Capital Partners, which was founded in 2007 by Marco Capello and Emilio Di Spiezio Sardo.Bluegem is a private equity firm based in London, which invests in European consumer brands and businesses. Mamas & Papas reported sales growth of 14 per cent to \xa3144m in its 2023 financial year.Nathan Williams, the CEO of Mamas & Papas, said: Over recent years, Mamas & Papas has continued to build momentum across all areas of the business, including our store footprint, digital offering, domestic market and overseas partnerships, helping us win a record share of the market.Mathieu Develay, Partner at Bluegem Capital Partners, added: Mamas & Papas is one of the most well known and loved premium baby brands in the UK, and a haven for expectant parents. It also hired a new lending director, Stephen Dinsmore, earlier this year to strengthen the lending operations out of its Leeds office.Last year, OakNorth launched a new business banking offering, to further support entrepreneurs and businesses across the UK. It also recently opened a new Glasgow office to support more businesses in Scotland.Director of Property & Debt Finance, James Espley, who is based in Leeds, said: "Weve probably been lending in the region of between \xa350m and \xa3100m to Yorkshire businesses a year since we established an office in Leeds in 2020.