Manufacturing  November 25, 2014

Kidrobot to stay in Boulder after acquisition by NECA

BOULDER – Kidrobot, which makes limited-edition art toys, apparel and lifestyle accessories, will remain headquartered in Boulder after its recent acquisition by the National Entertainment Collectibles Association.

The two companies announced the deal recently, noting that NECA subsidiary KR Purchase LLC made the purchase. Terms of the deal were not disclosed.

NECA, which also makes licensed toys and collectibles, is based in New Jersey.

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Kidrobot president Bob Africa said in a phone interview that the venture-backed company’s main investors, Steelpoint Capital Partners out of San Diego and Syntek Capital US out of San Francisco, were ready to cash out, providing the main driver for the sale. Kidrobot, founded in 2002, was doing between $10 million and $15 million in annual revenue, Africa said.

Kidrobot employs 20 people, including about 16 at its downtown Boulder headquarters. Africa said it’s too soon to say definitively that all current employees would be retained, though he noted that the goal will be to grow.

“There will be some changes as there always are,” Africa said. “… I know we’ll be adding headcount as well for sure.”

Frank Kozik, creator of the Labbit vinyl toy line, will serve as creative director for Kidrobot.

“When (NECA chief operating officer Joel Weinshanker) and NECA approached us about joining forces, about his intention to support us and allow Kidrobot to move forward with autonomy, I knew we had found the right partner,” Africa had said in a press release. “The timing of Frank agreeing to join us could not have been better and we are incredibly excited about Kidrobot’s future.”

In the phone interview, Africa said there are natural synergies between the two companies as well as some unique spots in the market held by each. He said there are multiple aspects of NECA, like sourcing and the supply chain, that Kidrobot would be able to leverage.

“There’s a lot of great opportunities to let us do what we do better,” Africa said.

BOULDER – Kidrobot, which makes limited-edition art toys, apparel and lifestyle accessories, will remain headquartered in Boulder after its recent acquisition by the National Entertainment Collectibles Association.

The two companies announced the deal recently, noting that NECA subsidiary KR Purchase LLC made the purchase. Terms of the deal were not disclosed.

NECA, which also makes licensed toys and collectibles, is based in New Jersey.

Kidrobot president Bob Africa said in a phone interview that the venture-backed company’s main investors, Steelpoint Capital Partners out of San Diego and Syntek Capital US out of San Francisco, were ready to cash out, providing the main driver for the sale. Kidrobot,…

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