Crofton Capital Acquires Schylling Associates

Crofton Capital has acquired Schylling Associates. The Boston private equity firm partnered with Gladstone Investment Corp. and Frank O’Connell to acquire Schylling. Financial terms weren’t announced. Rowley, Mass.-based Schylling designs, makes and distributes specialty toys and gifts.

PRESS RELEASE

Newton, MA — August 13, 2012 — Crofton Capital, LLC, a growth private equity firm based in the Boston area, has led the acquisition of Schylling Associates, Inc., a premier provider of specialty toys and gifts. Crofton Capital partnered with Gladstone Investment Corporation and industry executive Frank O’Connell in the transaction.
Since its founding in 1975, Schylling has built its reputation as a leading independent toy and gift designer, manufacturer and distributor. 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. The Schylling line also includes toys created in partnership with select licensed properties including Thomas & Friends™, Uglydoll®, Curious George™, Babar™ and Warner Brothers’ The Wizard of Oz™. In addition to its large stable of proprietary products, Schylling distributes a broad line of products for exceptional brands including LEGO®, BRIO®, Lava® Lamps, Moshi Monsters™, Angry Birds™, Sea Monkeys® and Erector®.
Schylling has a diverse customer base ranging from large retailers to many 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., the name of the company going forward. 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.
“We were particularly attracted by Schylling’s extensive line of evergreen products, and the tremendous relationships the team has developed with independent retailers across North America,” said Phil Ivey, Managing Director of Crofton Capital. “We are delighted to have Paul Weingard as the new President, and look forward to supporting Paul and the rest of the management team as the company continues to grow.”
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.”
About Crofton Capital
Crofton Capital is a growth private equity firm based in the Boston area that invests 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 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, including 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.