Beringea invests in My 1st Years
HMT LLP led by Partner Andrew Thomson undertook financial due diligence for Beringea LLP (“Beringea”) and Hargreave Hale (“Hargreave”) on their £5 million growth capital investment in personalisation site for children’s products My 1st Years.
My 1st Years is an ecommerce company that provides personalised gifts for babies and children. The company was founded by Daniel Price and Jonny Sitton in 2009, and has since become a favourite with celebrities including Dannii Minogue and Elton John as well as the royals. My 1st Years is the company behind the bathrobe HRH Prince George wore when meeting President Obama.
The business previously secured £2m in funding from High Net Worth individuals, including Lord David Alliance, co-founder of Coats Viyella and co-owner of N Brown Group which includes Jacamo and Simply Be in its catalogue. This brings the total amount raised by My 1st Years so far to £7m.
My 1st Years was recently launched in Harrods. This is the latest in a number of retail partnerships including notonthehighstreet.com, John Lewis and Selfridges.
This is the latest in a series of investments for Beringea in retail and ecommerce. The private equity firm invested in luxury watch reseller, Watchfinder in 2014, and announced investment in the men’s styling site Thread last year, as well as technology company Contact Engine (communications). HMT provided due diligence services to Beringea on those three transactions as well as on the investment in My 1st Years.
Daniel Price, Co-founder and Managing Director of My First Years commented:
“We always had a lot of faith in the potential of this company, but we’ve really seen that come to life in the last year or so, and it’s time for us to build on the success we’ve already had. Funding is key to the next step for us.”
Maria Wagner, Investment Manager at Beringea commented:
“It was very helpful to have HMT support us with the financial due diligence, particularly as they have a lot of experience in ecommerce and small companies. As always, they were very thorough, insightful and professional.”
Andrew Thomson commented:
“We are delighted to have again advised Beringea on their growth capital investment in another exciting ecommerce business. The Business has enjoyed impressive growth and the investment from Beringea and Hargreave will allow the management team to continue to achieve their exciting growth plans.”