Los Angeles-based private equity firm Transom Capital Group has acquired Uncle Milton Industries, a toy manufacturer.
Uncle Milton sells its products worldwide through mass merchandisers such as Toys ‘R’ Us and Target as well as through several thousand specialty toy stores.
One of its most famous products is the Ant Farm, a live ant habitat (pictured).
"Uncle Milton represents a cornerstone acquisition for our portfolio and offers a platform from which we hope to expand our presence in the industry," says Ken Firtel, managing director of Transom Capital. "The founders, the Levine family, have safeguarded the company’s sterling reputation for over half a century by introducing fun and educational toys consistent with the brand’s focus. We believe that Transom Capital can add a level of operational sophistication that will improve its performance both from a top and bottom line perspective."
"Toys have been a large part of my life, so it was important to me, personally, that the company find a partner who demonstrated a real commitment to the Uncle Milton legacy," adds Steve Levine, one of the owners of the company and son of founder, Milton Levine. "Transom Capital was simply the right fit. They exhibited the same passion for the industry and quickly understood the key issues and dynamics that underlie the company’s success. I’m eager to see where we can go from here."
Terms of the transaction were not disclosed. Sherwood Partners served as an adviser to Uncle Milton during the transaction.
