Construction toy maker K’Nex will become integrated into the Florida-based company.

Basic Fun!, of Boca Raton, acquired the assets of K’Nex during an auction held 29th January, K’Nex spokeswoman Kate Loffio has confirmed.

Kate also said that the company will continue to operate in Hatfield Township and has kept most of its employees.

In an email, Kate said Basic Fun! did not assume all of K’Nex’s liabilities. She said the new owners are reaching out to the company’s suppliers and vendors to arrange agreements to supply the company with parts and services. She also said the owners intend to continue to obtain American-made parts, as it has done since its founding in 1992. The company has a long-term sourcing agreement with Rodon, also of Hatfield, to supply core parts for the company’s building sets and other products.

Basic Fun!’s name came from a merger last year with two other toy companies: The Bridge Direct and Tech 4 Kids. Basic Fun, which, like K’Nex, also started about 25 years ago in Southampton, Bucks County, sells novelty and impulse toys, handheld electronic games and classic re-creations.