DENVER — Koala Corp. has agreed to buy the assets and business of Park Structures Inc., a maker of custom plastic and metal children's outdoor modular play systems.
Park Structures is to receive $12.7 million in cash at the acquisition's closing, and up to another $6 million in cash and stock if earnings goals for June 1999 are met. For the maximum benefit, that figure would be about $3.15 million. Park Structures of Coral Springs, Fla., reported sales of about $8.2 million for the 12-month period ended June 30.
Koala is based in Denver. It designs, manufactures and markets family-friendly products for businesses and other public establishments, including plastic Koala Bear Kare baby changing tables, child protection seats, booster chairs and play systems.