Platinum Equity to Acquire Playpower

LOS ANGELES (September 15, 2025) - Platinum Equity announced today that it has signed a definitive agreement to acquire PlayPower, one of the world's leading designers and manufacturers of recreational and outdoor living systems, from Littlejohn & Co, LLC ("Littlejohn").

Financial terms were not disclosed. The transaction is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions.

Headquartered in Huntersville, North Carolina, PlayPower designs and manufactures a wide range of products for outdoor recreation and living, including playground systems, recreational equipment, and related solutions, serving key end markets such as schools, parks and recreation, commercial and industrial facilities, residential communities, marine environments, and hospitality venues. The company 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.

"PlayPower is a market leader with a strong portfolio of trusted brands and an international manufacturing and distribution network," said Jacob Kotzubei, Platinum Equity Co-President. "We believe the company is well positioned to benefit from increased investment in outdoor spaces and recreational infrastructure, and we look forward to supporting its continued growth."

"There is a significant opportunity to grow PlayPower both organically and through strategic M&A," said Nathan Eldridge, Managing Director at Platinum Equity. "We see potential to expand in core product categories like outdoor play and shade, while also pursuing adjacent markets. Our goal is to accelerate PlayPower's transformation into a scaled, multi-brand platform with broad end-market reach, complementary product coverage, and enhanced manufacturing and distribution capabilities."

PlayPower CEO Bryan Yeazel is expected to continue leading the company after the transition to new ownership.

"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."

"This transaction represents the culmination of a successful partnership with 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."

Goldman Sachs is serving as financial advisor to Platinum Equity, and Simpson Thacher & Bartlett LLP is serving as legal counsel to Platinum Equity.

Lincoln International is serving as financial advisor to Littlejohn, and Gibson, Dunn & Crutcher LLP is serving as legal counsel to Littlejohn. Jamieson Financial is serving as advisor to the company's executive management team.

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.

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.

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