Fortress Investment Group has provided a $150 million senior secured term loan to Leisure Time Products to refinance existing debt and support the growth of its subsidiaries, Backyard Discovery and Step2.

Information on the Target

Leisure Time Products, a portfolio company of Aterian Investment Partners, has recently secured a $150 million senior secured term loan from Fortress Investment Group. This financing will refinance existing company term debt and bolster the growth of its two key operating divisions: Backyard Discovery and Step2.

Backyard Discovery is recognized as a leading manufacturer of ready-to-assemble outdoor structures, including swing sets, playhouses, pergolas, gazebos, greenhouses, and outdoor kitchens. Step2, on the other hand, excels in producing a diverse range of play, patio, and pool products. Both companies are based in the USA and have a robust market presence that extends to e-commerce platforms and traditional brick-and-mortar retailers across the USA, Canada, the UK, and other international markets.

Industry Overview in the Target’s Specific Country

The outdoor play and recreational product industry has experienced significant growth in the United States over recent years, driven by trends in family-oriented activities and increased consumer focu