Add-on Acquisition • Consumer Products

Backyard Discovery Acquires The Step2 Co.

On October 18, 2016, Backyard Discovery acquired consumer products company The Step2 Co. from Liberty Partners

Acquisition Context
  • This is Backyard Discovery’s 2nd transaction in the Consumer Products sector.
  • This is Backyard Discovery’s 3rd transaction in the United States.
  • This is Backyard Discovery’s 1st transaction in Ohio.

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M&A Deal Summary

Date October 18, 2016
Target The Step2 Co.
Sector Consumer Products
Buyer(s) Backyard Discovery
Sellers(s) Liberty Partners
Deal Type Add-on Acquisition

Target Company

The Step2 Co.

Streetsboro, Ohio, United States
The Step2 Co. LLC is a designer, manufacturer, and marketer of large format, rotationally molded children’s and home products sold under the Step2 brand. The Company’s product line includes kitchen playsets, playhouses, climb and slide activities, sandboxes, water play activities, riding products, and creative furniture, as well as mailboxes, storage sheds, gardening/landscaping products, and refuse containers. The Step2 was founded in 1991 and is based in Streetsboro, Ohio.
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Buyer Overview 1

Buyer

Backyard Discovery

Pittsburg, Kansas, United States

Category Company
Founded 1968
Sector Manufacturing
DESCRIPTION

Backyard Discovery is a manufacturer of wood swing sets, playhouses, patio products, and sheds under many brands. Backyard Discovery was founded in 1968 and is based in River Grove, Illinois.


Deal Context for Buyer #
Overall 3 of 3
Sector: Consumer Products 2 of 2
Type: Add-on Acquisition 3 of 3
State: Ohio 1 of 1
Country: United States 3 of 3
Year: 2016 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-26 Go Configure

New York, New York, United States

Go Configure, Inc. is a provider of delivery, installation and maintenance services with a focus on fitness equipment, wooden swing sets, wooden sheds, basketball goals, game tables, trampolines and gun safes. Go Configure is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-21 Sheds USA

Portsmouth, New Hampshire, United States

Sheds USA builds a wide range of quality, reliable storage solutions including wooden backyard sheds, garages and barns. Company customers use variety of Sheds USA storage solutions for a variety of purposes including vehicle, tool and equipment storage, gardening, recreational space, and even living space.

Sell -

Seller Profile 1

SELLER

Liberty Partners

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Liberty Partners is a private equity investment firm that targets controlling or substantial-minority investments in North American companies. Liberty looks for opportunities in manufacturing, business services, and education-related companies and seeks to invest $20 to $75 million of equity capital per transaction. Target businesses generally have at least $50 million in revenues and at least $6 million in EBITDA. Prospective transaction types include leveraged buyouts, corporate divestitures, recapitalizations, going-privates, build-ups, and growth financings. Liberty Partners was formed in 1992 and is based in New York City.


Deal Context for Seller #
Overall 31 of 32
Sector: Consumer Products 3 of 3
Type: Add-on Acquisition 12 of 12
State: Ohio 1 of 1
Country: United States 31 of 32
Year: 2016 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-15 EdgeAQ

Nashville, Tennessee, United States

Edgenet, Inc. is a provider of cloud-based product content network (“PCN”) and home improvement configuration software and services. The company’s comprehensive suite of SaaS solutions enable the exchange of detailed product information that can be utilized by retailers, manufacturers and suppliers to manage product data and streamline sales processes. Edgenet’s PCN software platform allows suppliers to collect, upload and share product information, marketing attributes and logistical data with retailers and its configuration tools help facilitate and simplify the design, ordering and manufacturing of configurable products including windows, doors, decking and fencing.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-03 Concorde

Mission, Kansas, United States

Concorde is a for-profit postsecondary educational institution that trains students for allied health careers including Medical Assisting, Dental Assisting, Insurance Coding, Respiratory Therapy, Surgical Technology, Vocational/Practical Nursing, and more. Concorde was founded in 1968 and is based in Mission, Kansas.

Sell -