PlayPower abandons bid for rival Burke after FTC merger lawsuit
The FTC's Bureau of Competition confirms PlayPower and owner Platinum Equity have dropped their proposed acquisition of BCI Burke, a week after the agency and a dozen states sued to block it. This brief statement sets out the FTC's view of market concentration and the deal's effect on school, church and municipal playground buyers.
- PlayPower and Platinum Equity abandoned the proposed acquisition of BCI Burke after the FTC and a dozen states sued to block the merger.
- The FTC says the top five manufacturers of commercial outdoor playground equipment, including PlayPower and Burke, control 85%-90% of the market.
- The proposed merger would have cut the number of major competitors from five to four.
- The deal would have given PlayPower's owners control over more than 30% of the relevant market.
- The FTC describes this as the latest in a series of acquisitions by PlayPower.