Chattanooga, TN – May 30, 2014 - PlayCore is pleased to announce its acquisition by Sentinel Capital Partners, a leading private equity firm focusing on middle market investments. The company was previously held by Irving Place Capital (IPC).
Based in Chattanooga, Tennessee, PlayCore is a leading designer, manufacturer, and marketer of a broad range of commercial play and recreation equipment. The Company offers a diverse family of brands and markets custom designed playground, recreational amenities, aquatic, performance, and specialty recreational products. Widely recognized as the industry thought leader, PlayCore’s product offering is complemented with highly differentiated value-added services such as research, curriculum-based education programs, and advocacy resources to help customers align with funding sources.
Under IPC’s ownership, PlayCore successfully executed on a strategic plan to drive growth both organically and through compelling acquisitions. During this period, PlayCore completed nine strategic acquisitions, further strengthening the company’s brand portfolio and enhancing its product offering, entering new end markets, and expanding PlayCore’s reach to a broader customer base.
Douglas Korn, a Senior Managing Director of IPC, stated, "PlayCore has achieved impressive expansion and we have enjoyed working alongside the company’s talented management team to strengthen the business and position PlayCore as not only the innovative market leader, but also the acquirer of choice in its sectors. We wish the company and its management team continued success."
PlayCore’s President and CEO, Bob Farnsworth commented, "We have been fortunate to work with Irving Place Capital for the last 7 ½ years. They have certainly supported the Company’s organic growth and acquisition strategy and have been instrumental in supporting the success of the Company. We are now very pleased to partner with Sentinel Capital Partners as we take PlayCore to the next stage of growth. Sentinel has a reputation as a value added partner and we look forward to working with them as we continue to focus on the continued success of PlayCore and our vision of building communities through play."
"PlayCore is an innovative leader and possesses a strong portfolio of leading brands in the playground and recreation market," said Eric Bommer, a Sentinel partner. "We are very excited to partner with PlayCore’s management team and support the continued growth of this great business."