PlayMonster is kicking off 2022 with a new CEO and fresh capital investment for global expansion and brand development. President Tim Kilpin has been promoted to head up the Wisconsin-based toymaker, which also received new financing from private market firms Adams Street Partners and H.I.G. Capital.

Kilpin was named president in 2020 and charged with driving PlayMonster’s international growth. As CEO, he’s also tasked with expanding the company’s retail relationships, product innovation, brand development and licensing. Kilpin joined the toyco from Activision Blizzard, where he served as president and CEO of its consumer products business, and he previously served in several executive roles at Mattel.

Former CEO Bob Wann, who has held the CEO position since 2009, is retiring.

The recent investment from Adams Street and H.I.G., meanwhile, will support expansion in international markets, as well as the development of PlayMonster brands like Little Wonders and Koosh and licensed products (including the launch of Hasbro’s Playskool).

Hasbro announced last year that it would broaden its Playskool brand with new offerings designed and manufactured in collaboration with PlayMonster. The deal encompasses the Playskool Glo Friends range of glow-in-the-dark figures and the Playskool Weebles kinetic toy line.

PlayMonster has grown in recent years through a series of acquisitions, including craft and activity manufacturer Ann Williams Group, arts and craft company Kahootz Toys and electric toothbrush brand BriteBrush.