Propel Acquires Craft-Kit Maker Alex Toys
Private equity firm Propel Equity Partners has acquired Alex, which manufactures children’s toys.
The target’s products include plastic lunch boxes filled with arts and crafts supplies, as well as bath and outdoor toys. Terms of the deal were not disclosed.
Northvale, N.J.-based Alex will be added to the Poof-Slinky brands, which already include Slinky, Poof, Ideal, Scientific Explorer and Fundex Games.
Propel, headquartered in Greenwich, Conn., bought Poof-Slinky in July 2012, and Fundex Games in December 2012. The firm was founded in 2012. Its other investments include Cadaco, a game company, and SOG, which makes specialty knives and tools.
Sperry Mitchell & Co. was Alex's financial adviser for the transaction.