Bluegem Capital Partners and Portobello Capital join forces for the next chapter of The Béaba Suavinex Group
London/Madrid 30th July 2026
The transaction marks Portobello Capital’s second investment from Fund V, with Bluegem Capital Partners reinvesting to continue supporting the Group’s growth.
Bluegem Capital Partners (“Bluegem”), the pan-European mid-market private equity firm specialising in real economy staple businesses, today announced that it has signed an agreement to sell a majority stake in The Béaba Suavinex Group (“the Group”), a leading premium baby care platform, to Portobello Capital (“Portobello”), one of Spain's leading private equity firms, through its second investment of Fund V. The transaction is subject to customary regulatory approvals and closing conditions. Bluegem and Portobello will continue to partner together and with the management team to support its next phase of growth.
Béaba-Suavinex brings together two premium brands, Suavinex and Béaba, with market leading positions across complementary baby care categories, distribution channels, and geographies. Suavinex is the Spanish champion in baby bottles, pacifiers and baby personal care, with a strong position in the pharmacy channel and an emerging international presence, while Béaba is a well-recognised baby care innovator in Europe with scalable digital and online capabilities, and a well-establishebead international footprint. The Group is further supported by two manufacturing facilities in Spain and Slovakia, best-in-class innovation and product development capabilities, and a highly experienced management team with a strong track record of value creation, led by Julien Laporte. 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. Under Bluegem’s ownership, Béaba-Suavinex has grown fourfold to deliver €130m in revenues and €20m of EBITDA in 2026.
Over the coming years, with the support of Portobello and Bluegem, Béaba-Suavinex will focus on accelerating the international expansion of Suavinex - leveraging Béaba’s existing international footprint - further developing the online channel, broadening the product offering into adjacent baby care categories, and pursuing selective M&A opportunities.
Julien Laporte, Chief Executive Officer, Béaba-Suavinex Group:
“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. 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, which has been an exceptional partner in building the platform we have today, will remain invested alongside us as we continue this journey together.”
Íñigo Sánchez-Asiaín, Founding Partner, Portobello Capital:
“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. Its resilient business model, strong innovation capabilities and established international commercial platform provide a compelling foundation for long-term value creation. We are excited to partner with Bluegem Capital and the management team to accelerate the Company’s international expansion and continue building a global leader in premium baby care.”
Mathieu Develay, Partner, Bluegem Capital Partners:
“The Béaba-Suavinex Group is exactly the type of business we seek to back: a market-leading platform with premium brands, differentiated products and significant international growth potential. We are delighted to continue this journey alongside Portobello, combining our complementary expertise to support management through the Group's next phase of growth while reinforcing Bluegem's long-term commitment to Spain.”
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.
Media Contacts
Portobello Capital
Carolina Álvarez
T. +34 91 431 80 71 | M. +34 673 637 856
Bluegem Capital Partners
Benedetta Negri da Oleggio
+44 7838 029970
Cristiano Signorini
+44 7950 413690
About Béaba Suavinex Group
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.
About Portobello Capital
Founded in 2010, Portobello Capital is a leading independent private equity firm specialising in mid-market investments across Southern Europe. The firm partners with families, founders and management teams to build market-leading businesses, driving growth through international expansion, professionalisation and industry consolidation. Headquartered in Madrid, Portobello manages more than €4.0bn in assets and is supported by a team of over 40 experienced professionals, with a portfolio of 25 companies.
About Bluegem Capital Partners
Bluegem is a pan-European specialist private equity firm focused on real economy staple businesses, primarily targeting manufacturing businesses with B2B/B2B2C entry points. The firm invests in sectors with resilient, non-discretionary demand and structural tailwinds that drive growth outpacing GDP. Bluegem operates through a holistic model, with its investment, digital and portfolio management teams working together across the full investment lifecycle. Underpinned by a defined value-creation playbook and supported by a network of specialist advisors, this integrated approach transforms businesses operationally and strategically, to build leading pan-European businesses at exit. With >€1bn raised and managed to date and a track record across multiple economic cycles, Bluegem combines a specialised operating platform with a differentiated ability to interpret end-demand signals into higher-value, upstream investment opportunities.