Schylling Toys Acquired by Crofton Capital and Gladstone Investment Corp.
ROWLEY, Mass., August 14, 2013-- Schylling Associates, Inc., a leading independent toy and gift designer, manufacturer and distributor, has been acquired by investment firms Crofton Capital, LLC and Gladstone Investment Corporation.
Schylling’s wide product line is well known for its high quality, contemporary versions of classic toys and collectables inspired by iconic playthings including jack-in-the-boxes, sock monkeys, tin robots and tin vehicles. Schylling toys combine a hint of nostalgia with a timeless sense of discovery and fun.
Schylling has an extensive customer base ranging from major retailers to thousands of independent toy, gift and specialty stores. A key to Schylling’s success has been its ability to provide exceptional products and service to this large number of retail accounts.
Paul Weingard has become President of Schylling Inc. He most recently led product development at Schylling for five years, and brings 30 years of diverse toy industry experience to his new role. Founder Jack Schylling is assuming an advisory role focused on providing creative support. David Schylling will continue in a business development leadership role with the energy that has helped build the company.
Paul Weingard enthused, “We’re extraordinarily excited about Schylling’s future. We see tremendous opportunities for product innovation, brand development and expanded distribution that will fuel continued growth. Our new partners bring the capital and complementary resources that will enable us to continue to build on our leadership position of classic fun in the independent toy arena.”
Added founder Jack Schylling, “I am thrilled that Paul will be the helm, guiding a dynamic team that will drive innovation while leveraging the company’s heritage.”
David Schylling remarked, “After the excellent sustained growth we have achieved over the past 20 years, we are looking forward to continuing that momentum. Schylling is a product-driven company, making Paul the perfect leader to drive Schylling’s further expansion.”
The company headquarters and distribution center will continue to operate in Rowley, MA. Mark Slusarz, VP of Sales, Jim Leonard, COO and Tom Schylling, CFO, will also continue in their current leadership roles.
About Schylling Inc.
Headquartered in Rowley, Massachusetts, Schylling Inc. is a leading designer, manufacturer and distributor of branded toys, gifts and collectible products to independent stores and large retailers. The Company’s product stable encompasses a diverse selection of classic toys and contemporary favorites under the Schylling brand, including toys created in partnership with select licensed properties, Thomas & Friends™, Uglydoll®, Curious George™, Babar™ and Warner Brothers’ The Wizard of Oz™, as well as a broad line of products it distributes for exceptional brands including LEGO®, BRIO®, Lava® Lamps, Moshi Monsters™, Angry Birds™, Sea Monkeys® and Erector®. For more information, visit www.schylling.com.
About Crofton Capital
Crofton Capital is a growth private equity firm based in the Boston area that invest in and provides strategic resources to small and midsize businesses based primarily in the northeast. Sectors of focus are consumer products and services, niche manufacturing, value-added distribution, business services, and software and technology-enabled services. For more information, visit www.croftoncap.com.
About Gladstone Investment Corporation
Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Gladstone Investment has paid 97 consecutive monthly cash distributions on its common stock. For more information, visit www.gladstonecompanies.com.
Keri MacRae, 978-948-3601
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