PlayCore Has New Owner

Friday, May 30, 2014

Private equity firm Irving Place Capital announced the sale of PlayCore, a Chattanooga-based designer and manufacturer of a broad range of playground and recreational equipment, to Sentinel Capital Partners. The transaction closed Friday, and terms of the deal were not disclosed.

Douglas Korn, a senior managing director of IPC, stated, “We have enjoyed working alongside PlayCore’s talented management team to strengthen the business and position PlayCore as not only the innovative leader in its markets, but also as the acquirer of choice. PlayCore has achieved impressive growth in revenues and profits for the benefit of its management, employees, customers and investors. We wish the company continued success.”

PlayCore’s President and CEO Bob Farnsworth said, “We have appreciated our partnership with Irving Place Capital, whose expertise and resources helped PlayCore execute strategic acquisitions, accelerate new product development, and build the PlayCore brand. We look forward to our next chapter as we remain focused on innovative design and expanding our existing businesses while continuing to acquire new ones.”

Irving Place Capital completed the acquisition of PlayCore in February 2007. 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.

Irving Place Capital was advised on the sale of PlayCore by Robert W. Baird & Co. and Kirkland & Ellis LLP, and PlayCore was advised by Miller & Martin PLLC.


All Tennessee Counties Meet Aug. 31 Budget Deadline

For the first time in decades all 95 Tennessee counties have adopted their annual budget resolutions by Aug. 31. This achievement means that Tennessee counties are now operating under a locally-adopted budget for the current fiscal year. Tennessee counties are also in full compliance with Public Chapter 170, Acts of 2015. This new law allows counties that do not adopt a ... (click for more)

Food City Pushing Forward On Conversion Of Former Bi-LOs

The conversion of area BI-LO stores to Food City accelerates this week as workers at the four stores in the first phase rush to get their stores ready to reopen. At the Food City store on Dayton Boulevard in Red Bank on Monday , Senior VP Jesse Lewis said that customers can expect hundreds of price reductions.   Mr. Lewis has a Chattanooga history - 25 years ... (click for more)

Developer Says CARTA To Lease 75 Parking Spaces At Renaissance Park Lot For New $14 Million Apartments

A member of the Vision Hospitality Group said Tuesday that CARTA plans to lease 75 spaces at the public parking lot by Renaissance Park for its planned $14 million apartment complex. Drew Hibbard, vice president of finance and investments, told members of the North Chattanooga Council of the Chamber of Commerce that it will be under a 50-year lease with the transit group that ... (click for more)

Muslim Civil Rights Advocacy Group Calls For Protection Of Muslims In Tennessee In Light Of Statements By Sheriff Hammond

The Council on American-Islamic Relations (CAIR), the nation’s largest Muslim civil rights and advocacy organization, on Tuesday called on public officials "to act to protect the civil rights of Tennessee’s Muslim community following anti-Islam remarks" by Hamilton County Sheriff Jim Hammond. Sheriff Hammond told members of the Hamilton County Pachyderm Club on Monday that he ... (click for more)

Sheriff Hammond Is Right On The Muslim Threat - And Response

Sheriff Hammond is exactly correct on the Muslims in Tennessee.  He sees with clear eyes the problem with the Muslims in our state and country.  They do want to take over Tennessee.  Our politicians are selling us down the river and allowing the trouble makers to dig in like tics and suck out the life's blood of our Constitution and take us over.  They ... (click for more)

Roy Exum: My September Garden

As we begin the annual pilgrimage into fall, I walk through my garden and, in the spirit of Orchids and Onions, I see colorful mums starting to flower at the same time dried-up weeds are begging to be pulled. So as we turn the calendar to September, here are some things that catch my eye: A COLORFUL MUM to Chattanooga State for unveiling the Michael Hennen Hospitality Center in ... (click for more)