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Topspin Partners II, a Roslyn Heights-based private equity fund, has made its first purchase, acquiring Patch Products for an undisclosed sum.
The private equity fund acquired Beloit, Wisc.-based Patch from founding brothers Fran and Bryce Patch, who launched the firm in 1985.
Patch makes and distributes traditional toys, such as 5 Second Rule, Don't Rock the Boat Farkle, The Game of THINGS..., Mirari, 100 Wacky Things,Lauri and Wooly Willy. In addition to its own products, Patch distributes Perplexus, Wood WorX and Stratego.
Patch products are carried by mass-market retailers, such as Wal-Mart Stores and Toys R Us, as well as independent specialty stores.
"It's a rapidly growing company," said Stephen Lebowitz, a...