Coolabi has expanded its portfolio of popular children’s properties with the purchase of stakes in the Beast Quest book series.
The transaction was completed between Coolabi and Edge Performance VCT, a division managed by Edge Performance.
Edge Performance also owns significant stakes in Coolabi Group and the moves comes as part of a plan to transform Coolabi into a leading player in the children’s and family IP market.
The Beast Quest series – created by Working Partnerships – boasts over 100 titles in its cannon, which have sold more than 11 million copies to date.
Coolabis boasts and established roster of intellectual property rights which includes Poppy Cat, Purple Ronnie and classics such as Bagpuss and Clangers.
Edge Investments CEO, David Glick, said: “Coolabi has an impressive management and a clear growth strategy.
“The addition of Working Partners and Beast Quest to the Coolabi portfolio will strengthen further its position in the dynamic children’s entertainment market.”
Jeremy Banks, CEO of Coolabi, added: “Edge is a supportive and strategic investor which really understands the creative industries and we expect these acquisitions to deliver significant opportunities to us.”