Bluegem Capital Partners, a UK-based pan-European mid-market private equity firm, is selling a majority stake in premium baby care platform, The Béaba Suavinex Group, to Spain-based PE firm, Portobello Capital. Bluegem will re-invest alongside Portobello to support the company’s next phase of growth.
Reports point to a company valuation of approximately €200m (US$230m), with Portobello taking 51% of the group, leaving Blue Gem with 48% and management retaining the remainder.
“We are delighted to continue this journey alongside Portobello,” said Mathieu Develay, partner, Bluegem Capital Partners.
Béaba Suavinex Group is a premium baby care platform bringing together the Suavinex and Béaba brands. Suavinex is the Spanish champion in baby bottles, pacifiers and baby personal care, while Béaba is a well-recognised baby care innovator in Europe. The group operates manufacturing facilities in Spain and Slovakia and sells its products in more than 100 countries.
This marks the second successful exit for Bluegem III and brings the fund to c.0.8x DPI. In 2025, Lagfin – the controlling entity of the Campari Group – acquired a minority stake in Blue Gem and committed to anchor its forthcoming funds.
Since the acquisitions of Béaba in 2020 and Suavinex in 2022, the group has grown significantly under Bluegem’s ownership, both organically and through strategic acquisitions. Revenue has increased from around €50m to €130m, EBITDA increased fourfold, from around €5m to around €20m in 2026, and at Suavinex, online sales more than doubled and innovation accelerated, with new product launches growing to more than 40% of sales.
“This marks an exciting new chapter for Béaba-Suavinex, with significant opportunities to accelerate our international expansion and broaden our product offering across adjacent baby care categories,” said Julien Laporte, CEO, Béaba-Suavinex Group. “Portobello Capital is the ideal partner to support this next phase of growth, given its strong track record of internationalising businesses and delivering value creation. I am also delighted that Bluegem will remain invested alongside us as we continue this journey together.”
“We believe Béaba-Suavinex is a unique platform, bringing together two premium baby care brands with complementary strengths, leading market positions and multiple avenues for growth,” said Íñigo Sánchez-Asiaín, founding partner, Portobello Capital. “Its resilient business model, strong innovation capabilities and established international commercial platform provide a compelling foundation for long-term value creation.”
Portobello was advised by LABS Corporate Finance, Marlborough Partners, Uría Menéndez, Bain & Company and EY.
Bluegem was advised by Altamar Advisory Partners and Harris Williams, Baker McKenzie, Strategy& and Alvarez & Marsal.
