MAMARONECK, NY – NOVEMBER 2018: Topspin Partners II, LP (“Topspin”), a suburban NY-based private equity fund focused on the lower middle-market, has exited its portfolio company PlayMonster LLC (“PlayMonster”), a leading manufacturer and distributor of family toys, games, preschool toys, creative activities and teaching tools. Over the past four years, Topspin, along with the PlayMonster team, created value by completing seven tuck-in acquisitions, launching several new product lines and expanding the Company’s marketing reach and efforts.
The acquirer, Audax Private Equity, has been focused on building leading middle market companies since 1999. Audax has invested $5 billion in 119 platform and 715 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value.
“PlayMonster is a unique, highly adaptable platform with a deep history in the toy industry and the ability to innovate quickly. The management team has done an exceptional job and positioned the company for continued growth under Audax’s control. We wish our management partners and all PlayMonster employees the very best in this exciting time to come,” said Steve Lebowitz, Managing Partner at Topspin.
Bob Wann, CEO of PlayMonster, stated, “As we look forward to partnering with Audax, we also thank the Topspin team for the value and support they provided to PlayMonster as our partners over the past four years. From the beginning, they shared our view for the potential of our business and helped us execute on both our M&A and organic growth strategies.”
Baird served as the exclusive financial advisor to PlayMonster on this transaction.
For more information on PlayMonster, please visit www.playmonster.com.
PlayMonster, headquartered in Beloit, WI, is a leading manufacturer and distributor of family toys, games, preschool toys, creative activities and teaching tools. The Company focuses on innovation through building brands and creating new categories, and maintains distribution across national chains and specialty stores in the U.S. and internationally. PlayMonster believes in the power of play to make a positive difference in people’s lives and has delivered on this goal through its quality products, such as “TOTY Game of the Year” Yeti in My Spaghetti®, “TOTY Doll of the Year” Wonder Crew®, The Game of THINGS…®, 5 Second Rule®, Relative InsanityTM, Farkle, Super Spinner®, Mirari®, Kid O®, and My Fairy Garden® among others.
Topspin Partners is a suburban NY-based private equity fund that makes investments in profitable and established lower middle-market businesses. The firm invests across a number of industries, including health and wellness, niche consumer, food and beverage and business services. 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.
Baird is a leading global investment bank focused on the middle market. Approximately 325 investment banking professionals in the U.S., Europe and Asia provide corporations, entrepreneurs, private equity and venture capital firms with in-depth market knowledge and extensive experience in merger and acquisition, debt advisory and equity financing transactions.