Propel Equity Partners Acquires ZOOB
Award-winning open-ended construction toy line joins POOF®-ALEX® family of leading toy brands on Propel Equity Partners roster
GREENWICH, Conn., September 12, 2013-- Propel Equity Partners, a private equity firm focused on investing and creating value in leading consumer brands, has acquired the ZOOB construction toy line from Infinitoy, Inc.
ZOOB joins the POOF®-ALEX® Holdings, LLC family of brands, which includes Slinky®, POOF®, Ideal®, Scientific Explorer®, Fundex Games® and ALEX® on the Propel Equity Partners roster of leading children’s 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,” says 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.
“ZOOB fits exceedingly well into our family of brands, combining the inventiveness and imagination of a toy such as Slinky with the educational value of Scientific Explorer and the do-it-yourself, hands-on creativity of ALEX Toys.”
Introduced in 1997, ZOOB is an award-winning building set with a difference—the pieces move after you put them together, allowing for truly interactive creations. 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 U.S. and in more than 100 countries through a variety of distribution channels.
About Propel Equity Partners
Propel Equity Partners, LLC, is a private equity firm focused on investment in branded consumer products businesses. Founded in 2012, Propel Equity Partners provides its portfolio companies with strategic and operational support to enable more efficient operations and accelerated sales growth. The firm believes in building value by partnering with existing management teams and by energizing brands and invigorating new product innovation.
For more information visit www.propelequity.com.
Propel Equity Partners
Robert Farinholt, 203-930-7711
Daddi Brand Communications
Bill Daddi, 646-370-1341 or 917-620-3717
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