POOF-Slinky, a maker of toys under the Slinky, POOF, Ideal, Cadaco, Scientific Explorer and Fuzzoodles brands, has received a significant investment from Propel Equity Partners.
POOF-Slinky manages a portfolio of recognizable branded toys, sports balls, educational activity kits, table top and board games and novelty products. Best known for its classic metal Slinky and Slinky Dog products and POOF foam balls, POOF-Slinky products are sold in more than 35,000 retail outlets. The company operates two manufacturing plants in Michigan and Pennsylvania and has over 125 employees. The company is managed by CEO Ray Dallavecchia Jr. and COO Doug Ferner. POOF-Slinky was founded more than 65 years ago and is based in Plymouth, MI (www.poof-slinky.com).
“In what is a fragmented industry, POOF-Slinky has consistently excelled as a leader,” says Michael Cornell, Partner, Propel Equity Partners. “Ray and Doug have put together an impressive stable of authentic toy brands that we believe have tremendous additional opportunities for growth at retail in the $20 billion plus toy market. We are looking forward to applying our expertise in the consumer products category to help POOF-Slinky accelerate organic growth, maximize brand potential, expand U.S. production capacity and make strategic acquisitions.”
Propel Equity Partners (formerly MCC Capital Partners) is a private equity firm focused on investments in branded consumer products businesses. Propel Equity Partners provides its portfolio companies with strategic and operational support to enable more efficient operations and accelerated sales growth. The firm is based in Greenwich, CT (www.propelequity.com).
“Propel Equity Partners has a strong track record of partnering with management teams of consumer products companies and providing the capital and expertise needed to help those companies reach new levels of growth and profitability,” says Ray Dallavecchia. “Propel showed particular knowledge and interest in the toy category, and we are looking forward to leveraging the additional resources and building upon our strong existing business.”
The “slinky” was developed in 1943 by naval engineer Richard James as an outgrowth of his work developing cushioning devices for warships; it was his wife, Betty who gave it the “slinky” name. The toy debuted at Gimbel’s Department Store in Philadelphia in 1945. Since then, more than 300 million Slinky’s have been sold. The Slinky is still manufactured in Hollidaysburg, PA, with the original equipment Richard James built.
