Court Square Capital Partners Nurtures PlayCore Growth Through Continuation Fund
Deal News | Nov 25, 2024 | Ropes & Gray
Court Square Capital Partners, a prominent private equity firm focusing on the middle market in the United States, has announced the closing of a single-asset continuation fund dedicated to its ongoing relationship with PlayCore Group. PlayCore, a leader in multi-brand playground and recreational equipment, will benefit from this fund's support, enhancing its potential for organic and M&A-driven growth. The primary capital backing for this fund comes from Sage Equity Investors, with Leonard Green & Partners and its co-investors providing significant financial commitments. This structure permits existing investors to either realize liquidity or continue their investment with PlayCore. Leonard Green & Partners received advisory services from Ropes & Gray, an esteemed law firm, with key partners Isabel Dische and Dan Kolb contributing to the transaction. PlayCore's management retains a strong investment in the company, aligning with its strategic growth objectives.
Sectors
- Private Equity
- Recreational Equipment
Geography
- United States – Both Leonard Green & Partners and Court Square Capital Partners are based in the United States, where the investment activity is taking place.
Industry
- Private Equity – The article discusses activities involving private equity firms, including investment and fund structuring.
- Recreational Equipment – PlayCore Group, a target company in the article, operates in the recreational equipment sector, specifically playground and recreation products.
Financials
- Unavailable – The article does not specify the financial details such as the exact amount of capital raised or valuation figures of the investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Court Square Capital Partners | Target Company | Company | A leading U.S. middle market private equity firm and the organizing firm behind the continuation fund. |
| Leonard Green & Partners, L.P. | Bidding Company | Company | A private equity firm that provides significant capital commitments through Sage Equity Investors for the continuation fund. |
| Sage Equity Investors, L.P. | Sole Lead Investor | Company | Provides incremental capital commitments, primarily capitalized by Leonard Green & Partners and its co-investors. |
| PlayCore Group | Portfolio Company | Company | A market-leading provider of multi-brand playground equipment and recreation products, beneficiary of the continuation fund. |
| Ropes & Gray | Legal Advisor | Company | Provided legal advisory services to Leonard Green & Partners during the transaction. |
| Isabel Dische | Partner, Alternative Asset Opportunities | Person | Served as practice chair and was part of the Ropes & Gray advisory team. |
| Dan Kolb | Tax Partner | Person | Tax partner involved in the advisory team from Ropes & Gray. |