Propel Equity Partners has acquired ALEX, a maker of children’s creative products. ALEX joins other toy brands owned by Propel including POOF-Slinky, acquired in July of 2012, and Fundex Games, acquired in December of 2012.
ALEX develops and markets art and crafts related products used by children. The brand features more than 1,000 items for all ages, from infants to ‘tweens, and has expanded to include products for imaginative and dramatic play, fashion and jewelry, and bath and outdoor toys. ALEX products are sold in more than 80 countries through a variety of distribution channels. The company was founded in 1986 and is based in Northvale, NJ (www.alextoys.com).
ALEX founders Nurit & Rick Amdur will remain with the company, while Fred Keller, President of POOF-Slinky, will take on the additional title of President of ALEX.
“ALEX has developed into a leading lifestyle brand for kids, presenting tremendous opportunities for expansion,” says Michael Cornell, Chairman and CEO of Propel Equity Partners. “This acquisition represents another step in our mission of bringing the most innovative and successful companies in the toy and craft industry under our umbrella.”
Propel Equity Partners (formerly MCC Capital Partners) invests up to $50 million of equity in branded consumer products businesses with$10 million to $100 million of revenue and adjusted EBITDAs from $2 million to $20 million. The firm was founded in 2012 and is based in Greenwich, CT (www.propelequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-29-13