Aterian Investment Partners announced yesterday that one of its affiliates has acquired Step2. Together, with Aterian’s affiliate, Backyard Discovery, the combined entity creates the largest outdoor toy company in North America, with leading market share positions in swing sets, playhouses, activity tables, play kitchens and ride-ons as well as outdoor home and garden products!
Backyard Discovery, who was acquired by Aterian Investment Partners in August 2015, is the largest designer, manufacturer, distributor and installer of playsets in North America. Founded in 1968 and headquartered in Pittsburg, Kansas, Backyard Discovery designs and manufactures consumer products including swing sets, playhouses, patio products and sheds.
Furthermore, with its network of nationwide installers, Backyard Discovery is a leader in assembling residential products, including playsets, sheds, fitness equipment, recreational equipment, outdoor grills, and patio furniture in the growing “Do-it-for-Me” (DIFM) space.
Chris Quinn, the CEO of this new combined entity is excited about this partnership. “We believe Step2’s combination with Backyard Discovery immediately creates the leading backyard toy company in North America,” Chris stated. “With the support of Aterian and Backyard Discovery, we plan to grow the businesses and its product offerings with a continued focus on quality and safety.”
David Thornhill, who will remain CEO of Backyard Discovery, and Michael Fieldstone, Principal at Aterian, echoed Chris’s excitement for this new partnership.
“We are excited to partner with the Step2 team and work under Chris Quinn’s leadership,” said David. “Step2 is at the forefront of safety, innovation and aspirational design and has vast know-how in the large format, plastics toy market.”
“We are excited to acquire Step2, not only for its leadership position in the branded toy market, but also for creating a market leader through the combination with Backyard Discovery,” stated Michael. “We look forward to partnering with the management team in the next stage of growth. We will support the team in coming up with fresh and innovative products and services, always emphasizing safety, innovation, quality and durability.”
You can read more about this acquisition on Ohio.com or by downloading the official press release.
