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.


Grand Opening Celebration Scheduled For New Chattanooga Farm Credit Office

Farm Credit Mid-America, a financial services cooperative that has served the credit needs of farmers and rural residents across Indiana, Ohio, Kentucky and Tennessee for nearly a century has constructed a new and expanded Chattanooga office . The Chattanooga office serves Hamilton, Marion, Rhea and Sequatchie counties. The new office offers over 5,000 square feet of space, ... (click for more)

Waterhouse Public Relations Expands Brand Development And Media Team

Waterhouse Public Relations has expanded its team with the addition of Sheri Young as vice president of Brand Strategy and Callie Smith as Media Services coordinator. As vice president of Brand Strategy, Young will drive the development of business and consumer brand campaigns, capitalizing on her 20+ years of working with national and global brands out of Nashville and Atlanta ... (click for more)

City Receives $400,000 Federal Grant To Study Passenger Train Service

The United States Department of Transportation has announced Chattanooga has received a $400,000 Transportation Investment Generating Economic Recovery (TIGER) grant to study the potential use of existing railways for a passenger rail system in Chattanooga. There were 72 awards announced in 46 states and Washington, D.C. Out of numerous grant applications across Tennessee, ... (click for more)

Former Assistant Police Chief Eidson Not Charged In Shooting Of Stepson On Englewood Avenue

Former Chattanooga Police Department Assistant Chief Kirk Eidson was not charged in the shooting of stepson Robert Ingle, 18, on Sunday morning in North Chattanooga. However, Ingle was charged with domestic assault and vandalism. In the incident shortly after 9 a.m. at 1049 Englewood Ave., Mr. Eidson said Ingle came to the house asking him to take him to their other house ... (click for more)

Dirt Decision At Camp Jordan May Come Back To Haunt East Ridge Councilmen

Wow. I thought the arrival of Bass Pro Shop would help bring East Ridge back to a position of prominence in the Chattanooga area, but the Council proved otherwise last night.  To the council - There is a reason that the developers want that dirt: It's valuable . You currently own it and the developer wants it. Bass Pro has already agreed to set up shop. They were going ... (click for more)

Roy Exum: Goodbye To My Scooter

The month of August turned out to be unkind, with my dog, my favorite aunt and my magnificent mother all dying within three weeks’ time. As I finally begin to push out the three newest dents in my soul, my habit has been to write something akin to a goodbye note to those I have loved. I’m not ready for Aunt Martha and Mother yet – not by a stretch -- but I remembered Scooter with ... (click for more)