New York-based private investment firm Praesidian Capital has acquired a controlling interest in Round 2 in South Bend. Round 2 is a collectibles company that makes model kits for classic cars and spaceships, die cast cars, slot cars and other hobby products.
Financial terms of the deal were not disclosed.
“Product design and innovation will always be at the core of Round 2’s growth strategy but we also believe there is significant consolidation opportunity within the highly fragmented collectibles space,” said Glenn Harrison, partner at Praesidian Capital. “We will be working closely with the Round 2 team to continue to build on its already impressive list of brands.”
Praesidian says the company has dozens of license agreements with well known brands such as General Motors, Ford, Star Trek and Star Wars and sells through major retailers including Walmart, Target, and Hobby Lobby.
The acquisition is the second platform company purchased by Praesidian under its recently-launched private equity strategy.