Playworld Systems has been sold to PlayPower
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce the sale of Playworld Systems, Inc. (“Playworld” or the “Company”) to PlayPower, Inc. (“PlayPower”), a global leader in the recreation industry. PlayPower is a portfolio company of Littlejohn & Co., LLC. Terms of the transaction were not disclosed.
Playworld is a leading designer and manufacturer of premium commercial playground equipment based in Lewisburg, Pennsylvania. The Company has a reputation for innovative product design and high-quality craftsmanship and serves multiple markets including schools, municipalities, housing authorities, developers, churches and daycare centers. Playworld’s diverse portfolio of product lines includes early childhood and school age playground systems, freestanding play structures, other fitness systems and site furnishings. These products promote unstructured outdoor play that helps children grow physically, emotionally, socially and cognitively. For more information, visit www.playworld.com.
Matthew Miller, current Playworld CEO, will assume the role of President of North America Play at PlayPower, reporting to Joseph Copeland, PlayPower’s CEO. He will be responsible for ensuring the continued growth and protecting the unique strengths of key PlayPower brands in North America, including Miracle, Little Tikes Commercial, Playworld, Soft Play and EZ Dock.
PlayPower will maintain its primary North American manufacturing facility in Monett, Missouri, while Playworld’s Lewisburg operation will continue producing products for the Playworld brand. Additionally, Miller is making an investment in PlayPower and will join Copeland on its Board.
Miller commented, “Lincoln International was a valued partner throughout the transaction. Lincoln’s team did an excellent job understanding Playworld’s value proposition and was able to articulate our growth story effectively. They ran a highly competitive sale process that generated significant interest from strategic and private equity buyers and resulted in an excellent outcome for the shareholders, the Company and its employees.”
Lincoln acted as the exclusive investment banking representative for Playworld, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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