A&O Shearman advise 3i Group plc on investment in WaterWipes

Edward McCloskey, WaterWipes’ founder, is retaining a significant minority position, with the leadership team led by Paul Heeringa, CEO, re-investing and partnering with 3i.

3i will support WaterWipes’ expansion in Europe, Latin America and Asia, driving growth in its core baby and children’s range as well as capturing further opportunities in additional categories such as adult and convenience.

WaterWipes’ products are 99.9% water and made from only two natural ingredients. The purity makes its products highly differentiated and proven effective to help prevent and reduce negative skin reactions. Headquartered in Drogheda, Ireland, WaterWipes is geographically diversified with sales in over 45 countries and double-digit growth in both offline and online channels. 

The multi-practice (A&O Shearman) team was led by European private equity sector co-lead Peter Banks with senior associate Soyeon Lim and Lauren Mawhinney, associates Oliver Barron, Arabella Robinson, Phoebe Toyne-Bridges and Andre-Pierre Cronje and trainee Patrick Kaufmann. The financing was led by European private equity co-lead and sponsor-side leveraged finance partner Neil Sinha and senior associate James Green, together with senior associate Fraser Jackson, associate Rhea Variava and trainee Juliette de Freitas Vile.