Carlyle locks up children’s car seat deal

The Carlyle Group, the Washington D.C. based buyout firm, has acquired UK-based children’s car seat company Britax Childcare in a deal valued at £230 million (€339 million; $424 million). The vendor was Britax International, the Royal Bank of Scotland-owned diversified manufacturing group that is currently refocusing its operations on its core business.
 
Britax Childcare is headquartered in the UK, and also operates in North America, Australia and Germany. Its products are sold under the Britax, Romer and Safe n Sound brands. Last year it generated revenues of approximately £120 million.
 
Sources close to the deal cited the company’s strong market position and its record of engineering innovation as reasons for Carlyle’s interest in the company. A third factor was the growth of the market expected to come from regulations raising the age until which children are required to use safety car seats.
 
In other news, Carlyle has named managing director Glenn A. Youngkin as the head of its global industrial operations. Youngkin will retain his role leading the firm’s buyout activities in the UK for the foreseeable future, and will divide his time between London and Washington, D.C.