Dude Wipes, a maker of flushable wipes, has received a strategic growth investment from TSG Consumer Partners, a leading private equity firm focused exclusively on the consumer sector. Founders Sean Riley, CEO, Jeff Klimkowski, CFO, and Ryan Meegan, CMO, will retain significant ownership stakes and continue to lead the company in their current executive roles. Long-time “Shark Tank” investor Mark Cuban will also retain its stake in Dude Wipes through this next phase of growth.
Founded in Chicago in 2011 by lifelong friends, Dude Wipes is a leader in the fast-growing flushable wipes segment of the bath tissue market, combining high-performance products with irreverent, authentic branding that’s as fresh as its wipes. The partnership with TSG Consumer will support the company’s efforts to broaden household adoption, reach new consumer segments and deepen manufacturing relationships and retail partnerships.
“We bootstrapped Dude Wipes from our apartment with nothing but an idea and some guts. Now, we’re teaming up with TSG Consumer to take this thing to a whole new level,” says Riley, Klimkowski and Meegan. “TSG Consumer believes in our brand, our tone, and our mission to make wiping and hygiene cooler than it’s ever been, and that confidence is already paying off. Our retail sales have increased nearly fourfold since 2021 — and we’re just getting started.”
Dude Wipes reportedly achieved retail sales of $220 million last year. Earlier this month, the brand expanded into the childcare segment with the launch of LiL' Dude Wipes exclusively in Walmart stores. Like all Dude Wipes, LiL' Dude Wipes are flushable and made with 99% water and plant-based ingredients like aloe vera and vitamin E. They're hypoallergenic, phenoxyethanol-free, and contain no parabens, phthalates, dyes, chemical binders or alcohol.
Cuban says, “DUDE Wipes is the best Shark Tank investment I’ve ever made." Cuban says. "The team built an iconic brand by staying authentic, having fun, and outworking everyone. I can’t wait to keep wiping with the DUDEs in this next chapter.”
“We’re thrilled to join forces with the DUDEs, who have built a disruptive, high-impact brand,” says Dan Costello, Managing Director at TSG Consumer. “Their differentiated products resonate with today’s consumer by addressing a previously overlooked need, opening up compelling pathways for expansion and innovation.”
Harris Williams served as lead financial advisor to DUDE Wipes, with legal counsel provided by Barnes & Thornburg. Lazard served as lead financial advisor to TSG Consumer, with legal counsel provided by Ropes & Gray. Financial terms of the transaction were not disclosed.
