Archive for June, 2011

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PlayPower Completes Consensual Restructuring Led by Apollo Investment Corporation – Receives $45 Million Investment

Huntersville, NC June 30, 2011 PlayPower Holdings, Inc., the world’s largest, fully integrated manufacturer of Commercial Playground Equipment and floating dock systems, today announced that it has completed a restructuring transaction with its lenders to extend maturities and eliminate approximately $145 million of debt. In connection with the restructuring, the Company received $45 million in new capital from Apollo Investment Corporation (“Apollo”). As a result of the transaction, Apollo acquired 100% of PlayPower. In addition, certain lenders have provided a new working capital facility. “We are very pleased to have reached an agreement with 100% of our lenders,” stated Greg Schreiber, PlayPower’s CEO. “Our new capital structure, combined with healthy financial performance and a reduced cost structure lay the foundation for long term growth and provide PlayPower with the operating and financial flexibility to support our business strategies and future growth opportunities. We look forward to continuing to offer our customers and representatives the highest levels of customer service and the most innovative products available in the industry.” Miller Buckfire & Co., LLC and Mackinac Partners, LLC served as financial advisors to PlayPower and Willkie Farr & Gallagher LLP served as legal counsel to PlayPower. Wachtell, Lipton, Rosen & Katz LLP served as ... Read more

Playgrounds 4 Joplin

In wake of the recent destruction caused by the devastating EF5 tornado in Joplin, Missouri, Miracle Recreation has implemented a “Playgrounds 4 Joplin” program to help rebuild the playgrounds damaged within the community.  With our manufacturing facilities located only 40 miles from the Joplin, MO area, many of our friends, families and co-workers were affected by this disaster.  We are committed to help bring play back to the children of Joplin. At Miracle Recreation, we will donate $100 for every playground sold during the month of June.  Proceeds will go towards parts for rebuilding playgrounds affected by the Joplin, MO tornado. In addition to donating $100 for every playground sold in June, Miracle will provide crews to install or repair each playground, manned by our staff and professional installation teams in the area. Miracle is doing our part to rebuild Joplin, MO, if you would like to personally contribute you can donate on our Funraising website at miraclefunraising.com.  100 % of all donations will go directly to the American Red Cross Joplin Relief Fund on behalf of Miracle’s friends and families. For more information contact us today at 1-888-458-2752. Read more

Miracle Recreation Implements “Playgrounds 4 Joplin” Program

For Immediate Release June 2, 2011 In wake of the recent destruction caused by the devastating EF5 tornado in Joplin, Missouri, Miracle Recreation has implemented a Playgrounds 4 Joplin program to help rebuild the playgrounds damaged within the community.  With our manufacturing facilities located only 40 miles from the Joplin, MO area, many of our friends, families and co-workers were affected by this disaster.  We are committed to help bring play back to the children of Joplin. At Miracle Recreation, we will donate $100 for every playground sold during the month of June.  Proceeds will go towards parts for rebuilding playgrounds affected by the Joplin, MO tornado. In addition to donating $100 for every playground sold in June, Miracle will provide crews to install or repair each playground, manned by our staff and professional installation teams in the area. Miracle is doing our part to rebuild Joplin, MO, if you would like to personally contribute you can donate on our Fundraising website at miraclefunraising.com.  100 % of all donations will go directly to the American Red Cross Joplin Relief Fund on behalf of Miracle’s friends and families. For more information contact us today at 1-888-458-2752. Read more