News Column

Chattanooga-based PlayCore sold

May 30, 2014

By Mike Pare, Chattanooga Times Free Press, Tenn.



May 30--Chattanooga-based playground equipment maker PlayCore has been acquired by Sentinel Capital Partners, a private equity firm focusing on middle market investments, the companies announced today.

PlayCore, which employs 110 people in Chattanooga and has manufacturing facilities in Fort Payne, Ala., was previously held by Irving Place Capital. The purchase price wasn't disclosed.

PlayCore President and CEO Bob Farnsworth said the company has been fortunate to work with Irving Place Capital for the last 7 and a half years.

"They have certainly supported the company's organic growth and acquisition strategy and have been instrumental in supporting the success of the company," he said in a statement. "We are now very pleased to partner with Sentinel Capital Partners as we take PlayCore to the next stage of growth.

Eric Bommer, a Sentinel partner, said PlayCore is an innovative leader and possesses a strong portfolio of leading brands in the playground and recreation market.

"We are very excited to partner with PlayCore's management team and support the continued growth of this great business," he said.

Under IPC's ownership, PlayCore executed on a strategic plan to drive growth both organically and through acquisitions. PlayCore completed nine strategic acquisitions, strengthening the company's brand portfolio and enhancing its product offering, entering new end markets, and expanding its reach to a broader customer base.

See more in Saturday's Times Free Press.

___

(c)2014 the Chattanooga Times/Free Press (Chattanooga, Tenn.)

Visit the Chattanooga Times/Free Press (Chattanooga, Tenn.) at www.timesfreepress.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Chattanooga Times Free Press (TN)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters