We’re pleased to introduce Scott Levin, our new president and chief executive officer. Here is the press release:
LEVIN NAMED PRESIDENT AND CEO OF STEP2
Contact: Dotti Foltz, Director Marketing Communications
Streetsboro, Ohio – January 22, 2007
Scott Levin has been named President and Chief Executive Officer of The Step2 Company, LLC (“Step2″), a leading designer, manufacturer and marketer of large format, rotationally molded children’s and home products sold under the Step2 brand. Levin succeeds Thomas Murdough, Jr., Step2′s founder, who will remain as an active board director.
Prior to joining Step2, Levin was President of Pentair Corporation’s Pool and Spa Division, a $650 million global leader in pool and spa equipment with R&D, manufacturing, and distribution facilities in North Carolina, California, Texas and Mexico. He brings to the company significant experience in leadership, general management, product development, operations, supply chain management and finance.
Levin stated, “I see the tremendous opportunities for Step2′s market leading innovations in the children’s and home products industries and am excited to lead the Company through its next phase of growth.”
Yvonne Marsh, a Senior Managing Director at Liberty Partners, stated, “We are extremely excited about Scott’s appointment and will continue to support the leadership team as they build on Step2′s position in its markets. Tom Murdough’s vision and leadership have been invaluable to the industry and to Step2, and we welcome his continued participation on the Board of Directors.”
Step2, based in Streetsboro, Ohio, is a leading designer, manufacturer and marketer of large format, rotationally molded children’s and home products sold under the Step2 brand. The Company’s product line includes kitchen playsets, playhouses, climb and slide activities, sandboxes, water play activities, riding products, and creative furniture, as well as mailboxes, storage sheds, gardening / landscaping products, and refuse containers. Step2 distributes its products through multiple retail channels including toy retailers, mass merchants, home centers, and the Internet. Liberty Partners acquired Step2 in April 2006.
About Liberty Partners
Liberty specializes in middle-market private equity investments in manufacturing, business services, and education-related companies. Since its founding in 1992, the firm has committed over $1 billion to more than 45 investments. Liberty typically seeks to deploy $20 million to $75 million of equity for controlling or substantial-minority positions in North American-based companies through a range of transaction structures – leveraged buyouts, corporate divestitures, recapitalizations, going-privates, build-ups, and growth financings.