Propel Equity Partners said on Tuesday that it has acquired ALEX. No financial terms were disclosed. ALEX founders Nurit and Rick Amdur will remain with the company, while Fred Keller, president of POOF-Slinky, a portfolio company of Propel Equity Partners, will become president of ALEX. Based in Northvale, New Jersey, ALEX is a producer of children’s toys.
Greenwich, CT, May 28 — Propel Equity Partners, a private equity firm focused on investing and creating value in leading consumer brands, has acquired ALEX®, a leading maker of children’s creative products.
ALEX joins the POOF®-Slinky® family of brands, which includes Slinky®, POOF®, Ideal®, Scientific Explorer® and Fundex Games® on the Propel Equity Partners roster of leading toy brands.
POOF-Slinky, Inc. was acquired by Propel Equity Partners in July of 2012, and Fundex Games was acquired in December of 2012.
“ALEX has developed into a leading lifestyle brand for kids, presenting tremendous opportunities for expansion,” says Michael Cornell, Chairman and CEO of Propel Equity Partners. “This acquisition represents another step in our mission of bringing the most innovative and successful companies in the toy and craft industry under our umbrella.”
The combined strength of the two companies, along with an emphasis on customer-development and brand-building will continue to fortify the brands’ presence. Broadened distribution and intensified consumer communications will drive availability of, and desire for, ALEX products among more households across the U.S. and around the world.
Founded in 1986 with the creation of a plastic lunch box filled with arts and crafts supplies, ALEX has grown into a preeminent manufacturer of children’s creative products designed to foster personal expression and build self-esteem.
The brand now features more than 1,000 items for all ages, from infants to ‘tweens, and has expanded to include products for imaginative and dramatic play, fashion and jewelry, and bath and outdoor toys. ALEX products are sold in more than 80 countries through a variety of distribution channels. More than 70 million ALEX products have been sold in the last 10 years.
POOF-Slinky sells some of the most iconic brands in the toy market, including Slinky, one of the most recognizable toys in the history of the U.S. POOF-Slinky products are sold in more than 35,000 retail outlets.
ALEX founders Nurit & Rick Amdur will remain with the company, while Fred Keller, President of POOF-Slinky, will take on the additional title of President of ALEX.
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.