Patch Products, a toy company acquired by Topspin Partners in September 2014, has acquired the Onaroo brand of night lights and alarm clocks for children from American Innovative.
The buy of the Onaroo brand allows Patch to expand into a new, complementary category of children’s room décor. “Patch is moving quickly and looking for opportunities to grow and expand. Onaroo is a strong strategic fit with Patch Products and will complement our existing products very well, while also allowing us to expand into new categories,” said Patch CEO Bob Wan.
The Onaroo line includes several award-winning products such as a talking bedside alarm clock and night light sold under the Teach Me Time!™ brand, a plush sleep buddy night light with music sold under the OK to Wake!™ brand, and Owl, a whimsical portable night light brand.
“The acquisition of Onaroo is part of Patch’s strategy to build a leading company with high quality products serving both the specialty and mass channels in the toy and juvenile products industries,” said Stephen Lebowitz, Managing Director at Topspin Partners.
Patch Products designs, manufactures, distributes and markets games, children’s puzzles, preschool toys, creative activities and teaching tools. Top-selling brands include 5 Second Rule®, Don’t Rock the Boat™, Farkle®, The Game of THINGS…®,Mirari®, 100 Wacky Things®, Lauri® and Wooly Willy®. Patch also has distribution rights for Perplexus™, Wood WorX™ and Stratego®. The company was founded in 1985 and is headquartered in Beloit, WI (www.patchproducts.com).
Topspin Partners makes control investments in profitable and established lower middle-market businesses. Sectors of interest include business and information services, health and wellness, leisure, food and beverage, and security. The firm is based near New York City in Roslyn Heights, NY (www.topspinpe.com).
2014 PEPD • Private Equity’s Leading News Magazine • 11-5-14