Propel Equity Partners has acquired the ZOOB construction toy line from Infinitoy.
Introduced in 1997, ZOOB is an award-winning building set with pieces that move after you put them together. ZOOB pieces are based on a natural and living system and features five basic pieces that snap together 20 different ways, making building easy and versatile. With more than 30 different themed sets, ZOOB products are sold throughout the US and in more than 100 countries through a variety of distribution channels (www.infinitoy.com/zoob).
Propel Equity Partners will operate ZOOB under its existing portfolio company POOF-ALEX Holdings, LLC which includes Slinky, POOF, Ideal, Scientific Explorer, Fundex Games and ALEX toy brands. POOF-Slinky was acquired by Propel Equity Partners in July of 2012, with Fundex Games acquired in December of 2012 and ALEX Toys in May of 2013.
“There’s tremendous interest in construction toys that are intuitive, easy to use and educational,” said Michael Cornell, Chairman and CEO of Propel Equity Partners. “ZOOB is a prime example of this. Its interlocking pieces excel at helping children improve their abilities with spatial relationships, motor skills and problem-solving – and therefore are highly favored by parents.
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 • 9-12-13
