Two upscale baby product companies are no longer under the wing of Seahawk Innovation.
 
The investment and consulting entity, which nurtures entrepreneurs and looks for innovative ways to solve consumer problems, sold its Mimijumi and NaturSutten brands to a New York-based private equity firm, according to Seahawk partner Brendan Collins. The separate sales took place late in the fourth quarter of 2021 for undisclosed amounts, Collins added.
 
“The firm, which wishes to remain anonymous, will both own and manage these two companies,” he said. “It’s their niche and they have the resources to take the companies to the next level.”
 
Founded in 2013 by Tobin Geatz and Tom Looney as a private partner to help University of North Carolina Wilmington develop the commercial potential of research projects and to spur innovation, Seahawk Innovation is the anchor tenant at UNCW’s Center for Innovation and Entrepreneurship (CIE). In addition to its work with the university, Seahawk invests in companies needing a fresh take.

The first company it acquired and resurrected was Mimijumi, an international maker of baby bottles that closely mimic the breastfeeding experience. In 2015, Mimijumi won the Greater Wilmington Business Journal’s Coastal Entrepreneur of the Year Award. More recently Seahawk invested in and helped manage Danish company Natursutten, which makes pure rubber pacifiers.
 
“We’re thrilled to have helped these companies and founders achieve a successful exit,” Collins said. “We wish the new owners of these great brands great success.”
 
Seahawk will continue looking for other companies that would benefit from its expertise while continuing to work with its two remaining businesses, Collins continued.
 
“We still have SportGait, another Entrepreneur of the Year winner, a concussion and neurological testing business that recently announced a partnership with [former NFL running back and sports commentator] Merril Hoge.
 
“We also have Fountain Life, which is a health care company that uses precision diagnostics and proactive wellness programs to find illness early or correct it altogether to lower health care costs,” Collins said, adding that Fountain Life also offers employers insurance covering proactive health programs and diagnostics.

NOTE: The previous version of this story misspelled the name of one of Seahawk Innovation's companies. It is correctly spelled SportGait. And text about Seahawk's role with Natursutten has been corrected.