Propel Equity Partners, a private equity firm focused on investing and creating value in consumer brands, has acquired ALEX, 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 toy brands. POOF-Slinky Inc. was acquired by Propel Equity Partners in last July, and Fundex Games was acquired in December.
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 worldwide.
Founded in 1986 with the creation of a plastic lunch box filled with arts and crafts supplies, the ALEX 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.
ALEX founders Nurit and Rick Amdur will remain with the company, while Fred Keller, president of POOF-Slinky, will take on the additional title of president of ALEX.
