Falcon Investment Advisors Invests in Basic Fun!
Basic Fun!, the Florida-based toy and novelties company, received a significant equity investment from Falcon Investment Advisors, LLC, the Boston-based investment fund.
Basic Fun!’s strategic goal is to be the next great American toy story by growing organically, as well as by acquiring and consolidating smaller toy companies in the wake of the ever-changing retail marketplace for toys in North America and globally. Following the merger of The Bridge Direct and Tech 4 Kids, which formed the new Basic Fun!, the company’s progression has continued with the acquisition of two STEM-focused companies, Uncle Milton and Geoworld in 2017 as well as the acquisition of K’NEX in early 2018.
The company says the investment from Falcon is a clear indication of the confidence the financial community has in Basic Fun!’s business model and its management team as the company scales up with the goal of emerging into the top 10 of global toy companies over the next several years.
“We couldn’t be more pleased than to have the support of the Falcon team,” says Jay Foreman, CEO of Basic Fun! “We have gotten to know Falcon over the past year and believe the team’s knowledge and expertise will help accelerate and finance our growth and acquisition plans.”
The company also has the support of The Royal Bank of Canada (RBC), which put in place the financing package to fund the merger with Tech 4 Kids and the acquisitions of Uncle Milton and Geoworld, and Cathay Capital Private Equity, which joined the Basic Fun! investor group earlier this year through its prior ownership of K’NEX.
“While our private equity partners hold minority stakes in our business, they along with RBC will play a major role in our future growth,” says Foreman.
BMO Capital Markets originated the investment from Falcon Investment Advisors, LLC and served as the exclusive financial advisor to Basic Fun! on the transaction.