A Black Country toy company has been bought out by a Dutch firm.
WOW! Stuff has welcomed Troy Companies as a new shareholder and is now looking to open a permanent base in Los Angeles and offices across Europe and launch more original and licensed products.
The Wolverhampton-based toy inventor, which also has a base in Hong Kong, is known for its Disney Stitch toy and has created other licensed products for well-known names such as Peppa Pig, Marvel and Harry Potter.
Troy Companies is based in Hertogenbosch and specialises in clothing, home products and other personal items such as phone cases and bags.
The undisclosed deal has enabled a partial exit for Birmingham-based private equity investor BGF although it will continue to invest in the business as a minority shareholder alongside the management team.
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Managing director Dawn Lavalette will continue to lead the business while co-founder Richard North will remain in situ as president.
Ms Lavalette said: This partnership is about growth - bold, ambitious growth.
"With the backing of the Troy group, we're now better positioned than ever to expand globally, scale our creative and commercial operations and stay laser-focused on what makes us unique."
Troy Companies chief executive John Huiberts added: "We are so excited that WOW! Stuff has joined the Troy family of companies.
"We have created a world-class manufacturing and logistics operation and have the scale and support to amplify its business while keeping the brand's DNA intact.
"This is a tremendous opportunity for us to compete on the same level as the biggest toy companies globally."
The Birmingham office of mergers and acquisitions consultancy Marktlink acted for WOW! Stuff on the deal.
Managing partner in Birmingham Joe Moran said: "This is a great example of a British company which is thriving on innovation and having a clear strategy for growth.
"In realising the deal, the senior management have unlocked the potential of their ideas and can build the business looking to the future with confidence and positivity."
Law firm The Wilkes Partnership provided legal advice to WOW! Stuff.
Senior partner Gareth O'Hara said: "This was a strategically significant and technically complex transaction involving cross-border elements and a range of commercial instruments.
"WOW! Stuff is an exceptional business with world-class partnerships and innovation and it's been a privilege to support the shareholders through this next chapter."
Other advisers on the deal were PKF Smith Cooper, Claritas, Shoosmiths, RSM Avaxa.
