Aterian Investment Partners has acquired Backyard Discovery, one of the largest designers, manufacturers, distributors and installers of playsets in North America, from Baird Capital which acquired the company in February 2007.
“We are excited to acquire Backyard Discovery, not only for its clear leadership position in the playset market but also for its diverse product offerings including sheds, playhouses and patio products,” said Michael Fieldstone, a Principal at Aterian, “We look forward to partnering with the management team in its next stage of growth.”
Backyard Discovery designs and manufactures consumer products including swing sets, playhouses, patio products and sheds under brands such as Backyard Adventures™, Leisure Time Products™, ShedsUSA™ and Home Brands™. The company maintains a network of over 3,000 installers who assemble its playsets, sheds, fitness equipment, recreational equipment, outdoor grills, and patio furniture. Backyard Discovery sells its products and services through in-store and online retailers, such as Wal-Mart, Sam’s, Home Depot, BJ’s, Dick’s Sporting, Toys “R” Us and Amazon. Backyard Discovery, founded in 1968, has approximately 309 employees and is headquartered in Pittsburg, KS (www.backyarddiscovery.com).
Aterian Investment Partners invests in small-to-middle market businesses with $25 million to $500 million in revenues that are underperforming, turnarounds or otherwise unique situations. Industries of interest include consumer products; food and beverage; retail; restaurants; health care services; manufacturing; distribution; metals and mining; industrials; and chemicals & commodities. The firm will consider both control and non-control investments. Aterian is based in New York (www.aterianpartners.com).
“We view Aterian as the right team to partner with the existing members of Backyard to help lead the company as we expand our existing product lines and services,” said Ron Scripsick, CEO of Backyard Discovery. “We are excited to partner with Aterian and view this as an opportunity to expand on the existing platform of the company.”
TM Capital (www.tmcapital.com) – an investment banking firm with offices in New York, Boston and Atlanta – served as financial advisor to Backyard Discovery.
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-1-15