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West Australian playground and outdoor fitness equipment business Forpark Australia has been acquired by mid-market private equity firm Redwood North in its third deal in the sector.

According to the Australian Financial Review, Redwood is understood to have paid in excess of $10 million to buy 100% of the company, in a deal signed in recent days.

Redwood North invests in business with up to $8 million EBITDA and has bought three play equipment manufacturers since April 2021.

Forpark Australia sells outdoors play and fitness equipment as well as furniture to schools, councils, land developers and landscape architects across the country.

It joins Redwood’s other playground investments, RhinoPlay and Playworks.

Rhinoplay makes and sells trampolines, jumping castles and the like to customers including McDonald’s, while Playworks specialises in outdoor play accoutrements.

The AFR reported “Redwood reckons the recent acquisition makes the roll-up, dubbed The Play Collective Australia, the largest playground design and manufacture group nationally with clients and products spanning indoor as well as outdoor usage.”

The combined business is led by ex-Asia Pacific general manager of Uber’s electric bikes and scooters business, Henry Greenacre, who is The Play Collective’s co-investor and Chief Executive.

Redwood North used house adviser RSM Corporate Finance and Maddocks for help with the acquisition, while Forpark Australia was advised by Octavian Group and BNT Legal.

Click here to contact Forpark Australia through their entry in the Australasian Leisure Management Supplier Directory.

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