A Greenwich-based investment firm has sold a playground equipment manufacturer to a Los Angeles-based private equity firm.
Littlejohn Co., an investor focused on private equity and debt investments in middle-market industrial and service companies, has sold PlayPower, a Huntersville, North Carolina-based maker of outdoor playground systems and recreational equipment, to Platinum Equity.
PlayPower, which has factories and warehouses across North America and Europe, sells playground equipment to schools, parks, commercial and industrial facilities, hospitality venues and other customers.
Financial terms were not disclosed.
The deal is expected to close in the fourth quarter, subject to regulatory approvals and closing conditions.
Littlejohn said it has about $8 billion in regulatory assets under management.
