WaterWipes to Expand with 3i €145M Investment
Deal News | Dec 09, 2024 | 3i Group
3i Group has announced a significant investment of approximately €145 million in WaterWipes UC, a premium wet wipe brand known for its minimal and natural ingredients. Founded by Edward McCloskey, WaterWipes has consistently grown, with market-leading customer loyalty and a CAGR of over 20% since 2017. WaterWipes is headquartered in Ireland and sells in over 50 countries. With the backing of 3i, WaterWipes aims to enhance its presence in Europe, Latin America, and Asia, focusing on its Baby and Children's product range while exploring new categories. This collaboration also strengthens its sustainability initiatives. Edward McCloskey will retain a minority stake, while the leadership under CEO Paul Heeringa will continue partnering with 3i.
Sectors
- Personal Care
- Consumer Goods
Geography
- Ireland – WaterWipes is headquartered in Drogheda, Ireland, where it has based its operations and achieved significant growth.
- Europe, Latin America, and Asia – 3i aims to support WaterWipes' expansion across these regions, leveraging growth opportunities in new markets.
Industry
- Personal Care – WaterWipes operates in the personal care industry, particularly focusing on wet wipes, a growing sector driven by hygiene awareness.
- Consumer Goods – WaterWipes is a premium brand within the consumer goods sector, targeting everyday essential products with a focus on quality and sustainability.
Financials
- €145 million – The investment amount 3i Group is committing to WaterWipes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 3i Group | Investor | Company | A private equity firm investing €145 million in WaterWipes to support its global expansion. |
| WaterWipes UC | Target Company | Company | A premium wet wipes brand known for its natural ingredient products, headquartered in Ireland. |
| Edward McCloskey | Founder and Executive Chairman | Person | The founder of WaterWipes retaining a significant minority position post-investment. |
| Paul Heeringa | CEO | Person | CEO of WaterWipes leading the company into a new phase of growth aided by 3i's investment. |
| Rupert Howard | Partner at 3i | Person | Partner at 3i, commenting on the strategic fit of WaterWipes for 3i's investment strategy. |