PlayMonster Names New CEO, Secures More Capital

PlayMonster has received fresh funding from global private markets firms Adams Street Partners and H.I.G Capital and has promoted Tim Kilpin to the role of CEO.

Kilpin was formerly president of PlayMonster. He previously served as president and CEO of Activision Blizzard’s consumer products business and president and chief commercial officer for Mattel.

Former PlayMonster CEO Bob Wann is retiring from the company.

Bill Sacher, partner at Adams Street, said, “PlayMonster has gained the trust of countless families with their iconic toys and games, and nearly 40 years of rich company history. We believe in the PlayMonster vision, leadership and values, and we’re eager to support the company’s growth.”

“It’s an exciting time of strategic development and expansion, charting further success for PlayMonster,” said John Yeager, managing director of H.I.G Capital. “Not only is the business strong, but the inherent value in what PlayMonster brings to kids and families in all of its products is something incredibly positive that we are proud to be part of.”

Kilpin said: “Our relationship with Adams Street and H.I.G Capital greatly accelerates our goal to become one of the industry’s top global toy companies and echoes our steadfast dedication to delivering great play experiences for consumers. We’re eager to work with two firms that share our vision and values and have what it takes to create magic in 2022.”

“Bob’s passion for the power of play and delivering innovation to consumers has been transformational for the company, and his overall dedication to the entire toy industry truly inspiring,” added Kilpin. “We offer him our sincerest thanks and best wishes as he moves into a new chapter.”