What We Did

Founded in 2018 by California-based entrepreneur, Andy Lam, UpwardBaby is a premium line of baby care products that give parents the peace of mind knowing their toddler has the best utensils when learning to eat.

As a front-runner in the emerging trend of “baby-led weaning,” Mr. Lam’s unique offering in an already high growth category resulted in an average revenue growth rate of >100% year-on-year which quickly reached >$ 3 million in revenue. His baby suction bowl became the number-one-selling toddler bowl on Amazon US.

Understanding the limitations of a sole operator, UpwardBaby’s accelerated growth presented Mr. Lam with options of either building a team or pursuing a lucrative exit. Choosing the latter, Mr. Lam began planning an exit in Q1 2022 and mandated The Fortia Group to oversee the exit process. UpwardBaby’s promising numbers attracted 12 LOIs, with seven buyers entering a competitive auction to win the asset. These offers ranged between 5X and 7X and resulted in a seven-figure consideration from a US-based aggregator. Mr. Lam was very pleased with the outcome.