Topspin Partners said Wednesday that it has acquired toy company Patch Products. The sellers were the firm’s founders Fran and Bryce Patch. No financial terms were disclosed.
ROSLYN HEIGHTS, NY–(Marketwired – Sep 17, 2014) – Topspin Partners, a suburban New York-based private equity firm focused on the lower-middle market, announced it has acquired Patch Products from its founders Fran and Bryce Patch. Patch, founded in 1985, has grown from a small puzzle and game manufacturer to a family entertainment company which designs, manufactures, distributes and markets games, children’s puzzles, preschool toys, creative activities and teaching tools. Patch has evolved into one of the fastest growing and most highly regarded toy companies in the industry today.
According to Stephen Lebowitz, Managing Director at Topspin, “The growth Patch has seen in recent years is a result of its diverse, multi-category product line and its distribution in both mass and specialty retailers. We are excited to have found this outstanding company and are looking forward to supporting its management team and building upon its strong foundation.”
The Patch management team, led by CEO Bob Wann, will remain with the company. Bob Wann states, “We are excited to have Topspin as our partner going forward. It was very apparent from all of our discussions that Topspin shares the same excitement and support for the strategic vision we have for Patch. This, combined with the additional financial resources that they can provide, will trigger further expansion and growth for Patch.” Wann is a prominent member of the toy industry, serving on both the Toy Industry Foundation Board of Directors and as Treasurer on the Executive Committee of the Toy Industry Association’s Board of Directors.
Topspin Partners is a suburban NY-based private equity fund that makes control investments in profitable and established lower middle-market businesses. The firm invests across a number of industries, including business and information services, health and wellness, leisure, food and beverage and security. The Topspin team has considerable operational expertise and collaborates with management teams to build businesses of varying stages and sizes. Further information on Topspin can be found at www.topspinpartners.com.
About Patch Products
Patch Products leads the toy industry in design, manufacturing, distribution and marketing of games, children’s puzzles, preschool toys, creative activities and teaching tools. Top-selling brands include 5 Second Rule®, Don’t Rock the Boat™, Farkle, The Game of THINGS…®, Mirari®, 100 Wacky Things®, Lauri® and Wooly Willy®. Patch also has distribution rights for Perplexus™, Wood WorX™ and Stratego®. Patch focuses on innovation through building brands and creating new categories.