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Thorley product deal with Hasbro boosts jobs
Friday, January 11, 2008

A Strip District company has signed a $215 million deal with international toy maker Hasbro to develop a new line of products.

The agreement turbocharges the already rapid growth of Thorley Industries LLC, formed in 2005.

The company manufactures two products under the "4moms" brand to help parents as they bathe their infants: an infant tub and a spout cover, both of which have digital LEDs that display the water temperature. The products are marketed through the company's Web site, www.4momsonline.com, and through retailers such as Babies-R-Us.

The deal grants Hasbro a 50-year license to manufacture and sell two new products that Thorley has designed and developed. Without giving detailed descriptions of the products, which will appear in the fall, Thorley Co-founder and Chief Executive Officer Robert Daley said they would employ "a consumer application of robotics technology."

Besides the two specific products being licensed, Hasbro also is paying Thorley "additional money to work on additional products over the next year" that will be placed in production at a later date, Mr. Daley said.

With $200,000 of their own money and a $300,000 loan from Innovation Works, Mr. Daley and Henry Thorne, now Thorley's chief technology officer, started the company in the summer of 2005. Their first round of equity investment came in April 2006 when BlueTree Allied Angels, a local network of individual investors, bought a $1 million stake. During the first half of last year, FNB Capital joined BlueTree in a second round that totaled $2.1 million.

Thorley's first product, the spout cover, began shipping in October 2006; the infant tub, in February 2007. The products caught the eye of Hasbro representatives at a trade show about a year and a half ago, Mr. Daley said.

As the conversation at Thorley's booth turned to products the company had in development, Hasbro's curiosity turned into commercial interest.

Thorley, which previously employed five, has hired two new employees as a result of the agreement, and expects to hire two more.

Elwin Green can be reached at egreen@post-gazette.com or 412-263-1969.
First published on January 11, 2008 at 12:00 am