PlayPower, maker of commercial recreational and leisure products, has been acquired by Platinum Equity, a Los Angeles, CA-based private equity firm. The seller was Littlejohn & Co, LLC.
Financial terms of the transaction were not disclosed.
Headquartered in Huntersville, NC, PlayPower manufactures a range of products, including water slides, jungle gyms, pool decks, climbing frames, resilient surfacing materials, and commercial equipment to create and amusement parks. Clients include schools, parks and recreation, commercial and industrial facilities, residential communities, marine, and hospitality venues. The company maintains an international footprint with manufacturing and distribution facilities across North America and Europe.
“Families and communities are prioritizing open-air spaces for health, wellness and social connection, fueling long-term demand for premium outdoor equipment and playground solutions,” said Jacob Kotzubei, Platinum Equity co-president. “We believe PlayPower is uniquely positioned as a leader in this market and are proud to support the company’s mission to enrich lives and strengthen communities through play and outdoor experiences.”
“PlayPower represents a platform with significant runway for growth across its core categories and adjacent segments,” said Nathan Eldridge, managing director at Platinum Equity. “We are eager to support the company’s growth organically and through new acquisitions that can expand its family of brands into complementary markets.”
In the active and lifestyle space, Platinum Equity’s investments include GSM Outdoors, Momentec Brands, Mad Engine, and Pelican.
Goldman Sachs served as financial advisor to Platinum Equity, and Simpson Thacher & Bartlett LLP served as Platinum Equity’s legal counsel on the transaction. Lincoln International served as financial advisor to Littlejohn, and Gibson, Dunn & Crutcher LLP served as legal counsel to Littlejohn. Jamieson Financial served as advisor to the company’s executive management team.
Image courtesy PlayPower
