Round 2 acquires Lionel

Round 2 agreed to acquire Lionel. Reported deal value: Undisclosed. Status: Completed. Sector: hobby and collectibles. Target headquarters context: Concord, North Carolina, United States.

This page summarizes publicly available information about the transaction as of 2026-03-19. Figures and status may change as filings and press coverage update.

Chicago Atlantic announced that it acted as administrative agent in support of the acquisition of Lionel Holdings , LLC , a premier designer and manufacturer of model trains and hobby products by Praesidian Capital and its portfolio company, Round 2 Holdings , LLC , a leading designer, developer, and marketer of model kits, die-cast collectibles , and hobby products