Company Expands its Retail Presence with 5,600 New Stores in 20 New Countries,
and Wins U.S. Small Business Administration Home-Based Business of the Year Award
CROFTON, Maryland, May 1, 2017 – InRoad Toys, maker of award-winning PlayTape®, announced today that it has closed a Series A round of funding led by Shurtape Technologies, LLC, an industry-leading producer of pressure-sensitive tapes available under well-known consumer tape brands including Duck Tape®, FrogTape®, and T-REX® tape. InRoad Toys has also added O’Reilly Auto Parts, Imaginarium, and select Target stores to its rapidly expanding network of retailers, and has been named the 2017 Maryland Home-Based Business of the Year by the U.S. Small Business Administration. See video HERE.
A 2016 Toy of the Year Finalist, PlayTape makes it easy for kids to create instant roads for toy vehicle play anytime, anywhere. PlayTape sticks to any flat surface, and is easy to tear and reposition. After hours or even days of fun, PlayTape peels up without any residue and is recyclable, so cleanup is a snap. Parents can take PlayTape anywhere in a pocket or purse, and use it to bring kids’ imaginations to life.
Through its recent acquisition of Syntac Coated Products, Shurtape became a key InRoad Toys manufacturing partner. Now, with its direct investment in InRoad Toys, Shurtape has further strengthened and reinforced the relationship between the two companies, which lays the foundation for accelerated growth in the PlayTape business.
“I could never have imagined a relationship that works so well on so many different levels,” said Andy Musliner, Founder and CEO of InRoad Toys. “Shurtape has a deep understanding of our product line. Their world-class manufacturing and logistics capabilities will enable us to increase efficiency and reduce costs while helping us keep pace with our global expansion. At the same time, Shurtape’s leadership position in the retail tape industry will help us access new markets and customers, further accelerating our growth.”
“We’re very excited about our investment in InRoad Toys and the deepening relationship between our two companies,” said Stephen Shuford, CEO of Shurtape Technologies. “We’re proud of the significant market position we’ve established with our Duck Tape, FrogTape and T-Rex tape brands and are enthusiastic about the partnership with InRoad Toys, a partnership that enables us to participate in the entirely new market of toy tape products. With the vision of the team at InRoad Toys, we’re confident we’re embarking on a long and successful journey.”
In just the last 30 days, InRoad Toys added O’Reilly Auto Parts, international toy store chain Imaginarium, and select Target stores to its expanding network of retailers, representing more than 5,600 additional stores in 20 countries. The company’s PlayTape and Hot Wheels PlayTape products are also available at Walmart, Toys R Us, Barnes & Noble, Hobby Lobby, Wegmans, and in more than 35 countries around the globe. A full listing of stores that carry PlayTape and Hot Wheels PlayTape products can be found at http://www.playtape.com/locator. To see how much fun kids can have with PlayTape, watch PlayTape in action on YouTube.
In recognition of its dramatic growth and potential, product innovation, commitment to American manufacturing and job creation, and community contributions, InRoad Toys was also named the U.S. Small Business Administration’s 2017 Home-Based Business of the Year for the state of Maryland.
“Being named the Home-Based Business of the Year is a tremendous honor for us, and a recognition of the changing face of business today,” noted Andy. “We’ve built a 100% virtual enterprise that seamlessly designs and manufactures products, while meeting the demanding requirements of the largest retailers in the world. I’m proud of the example we are setting in the industry and appreciate the SBA’s acknowledgement of our accomplishments and our potential.”
Award winners will be honored at the SBA’s 33rd annual Maryland Small Business Week Awards, to be held Thursday, June 8, 2017. More information about the award and the event can be found at: http://mdsbwawards.org
About InRoad Toys/PlayTape®
InRoad Toys develops groundbreaking, enduring, high-play value toys with broad applicability across age groups. The company’s premier product, PlayTape® is revolutionizing the way the world plays with toy vehicles. With award-winning PlayTape, kids can instantly create roads and rails for toy vehicle play anytime, anywhere! Just unroll, stick, and drive! It’s hours of entertainment on a single roll. PlayTape sticks to any flat surface and is easy to tear by hand and reposition. It peels up without any residue and is recyclable, so cleaning up is a snap. Take PlayTape anywhere – in your pocket or purse – and let your child turn imagination into reality. Since peeling out into the market in 2014, PlayTape has won over 25 industry awards, including Parents Magazine Best Toys of 2014 and being named a 2016 Toy Industry Association Toy of the Year Finalist. PlayTape is 100% Made in the USA. Ages 3+. U.S. Patent and Patent Pending. For more information visit www.playtape.com, www.Facebook.com/InRoadToys.
Shurtape®, Hickory, N.C., is an industry-leading producer of pressure-sensitive tapes designed to meet the most exacting standards. Products include masking and paper, foil and film, packaging, double-coated, cloth and duct, and other specialty tape products, in addition to packaging dispensers and equipment for automated and manual packaging applications. Recognized as a Responsible Tape Manufacturer by the Pressure Sensitive Tape Council (PSTC), Shurtape proudly serves a variety of markets, from painting and packaging to HVAC and transportation, with facilities in the United States, Canada, United Kingdom, Germany, Mexico, Peru, United Arab Emirates and China. For more information, visit shurtape.com, find us on Facebook® (facebook.com/Shurtape), follow us on Twitter® (@shurtapetech) or watch our videos on YouTube® (youtube.com/ShurtapeTech).
PR Contact: Karen Apablaza, firstname.lastname@example.org, 888.808.4465 x704.