Littlejohn & Co. has sold PlayPower to Platinum Equity

PlayPower

PlayPower is one of the world’s leading designers and manufacturers of recreational and outdoor living systems, including playground systems, shade structures, recreational equipment and related solutions. PlayPower serves key end markets such as schools, parks and recreation, commercial and industrial facilities, residential communities, marine environments and hospitality venues. PlayPower maintains an international footprint with manufacturing and distribution facilities across North America and Europe, enabling efficient delivery, reduced transit times and compliance with regional regulatory and design standards. For more information, please visit https://playpower.com.

The Deal

In partnership with Littlejohn, PlayPower achieved meaningful growth through investments in its leadership team, expansion of its global manufacturing footprint, enhancements to commercial capabilities and the successful execution of a targeted mergers and acquisitions (M&A) strategy. PlayPower is excited to continue its growth trajectory with Platinum Equity, which plans to expand in core product categories like outdoor play and shade, while also pursuing adjacent markets through acquisition opportunities.

”This transaction represents the culmination of a successful partnership with PlayPower CEO Bryan Yeazel and the PlayPower leadership team,” said Brian Ramsay, Managing Partner and President at Littlejohn. “Bryan and the team responded to the operational challenges of COVID and drove growth in its core business lines, both in the U.S. and Europe. We wish Platinum and the PlayPower team much success.”

”We are excited to partner with Platinum Equity as we enter this next chapter,” said Yeazel. ”Platinum’s operational expertise and experience building global platforms will help us accelerate growth, innovate for our customers, and continue delivering exceptional products and services. Littlejohn has been an exceptional partner to the company and we are grateful for their support and collaboration.”

Our Perspective

Scott Molinaro, Managing Director and co-head of Lincoln’s building products practice, commented, “It was a privilege to work with Littlejohn and PlayPower’s management team on this important transaction in the outdoor living space. PlayPower holds leading market positions across the large play, shade & asset protection and other outdoor living addressable markets and is well-positioned to take advantage of favorable tailwinds, including growing demand for outdoor play as a means of childhood development, rising trends in outdoor recreation as well as heightened awareness of shade & asset protection to maximize recreation & commercial utilization and prevent damages from natural elements. We believe there is significant organic and inorganic runway for the business and look forward to following their continued success.”

About Littlejohn & Co.

Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments in growing middle-market industrial and services companies that can benefit from Littlejohn’s 25+ years of operational and sector expertise. With approximately $8 billion in regulatory assets under management, the firm seeks to build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit www.littlejohnllc.com.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 500 acquisitions.

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