Bancroft Bridge Fund, a private equity fund managed by Vienna based Bancroft Private Equity, has sold its stake in Rubik’s Brand Ltd (RBL), the London based company that owns the rights to the world famous Rubik’s Cube, to Spin Master Corp (Spin Master), a global children’s entertainment company. RBL was established by the founding families of the original Rubik’s business in 2013 to focus exclusively on the Rubik’s Brand. The investment by Bancroft in 2018 fuelled an ambitious growth strategy through new channels, new products and new markets utilising Rubik’s unparalleled global brand-recognition.
Monika Lukacs, the partner leading the deal for Bancroft, says: “I am pleased that our investment has helped RBL to transform and expand and facilitated the sale to Spin Master, as I believe Spin Master is the right partner for the next phase for the brand and also for the founding families. This deal demonstrates the benefits of involving a private equity partner for business owners prior to a strategic sale. We are very pleased that we were able realise our strategy with the company and achieved an exit within 2.5 years while helping to fulfil the ambitions of the founders and produced a good return for our investors despite the current challenges posed by the pandemic.”
