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.


TN Supreme Court Holds That Indigent Prisoner's Case Was Properly Dismissed

The Tennessee Supreme Court has held that an indigent prisoner’s case was properly dismissed pursuant to Tennessee Code Annotated section 41-21-812 when the prisoner had outstanding unpaid court costs from prior litigation.  Tennessee Code Annotated section 41-21-812 authorizes the rejection of certain new claims in court from an indigent inmate who has unpaid fees, taxes, ... (click for more)

Two TVA Difference Makers Named To Nation’s Top 50 Economic Developers List

Two TVA go-getters have been named as two of North America’s Top 50 Economic Developers by Consultant Connect, a consulting agency designed to bridge the gap between economic developers and site consultants. Bill Adams makes it his business to know the Valley. As the senior target market specialist for TVA Economic Development, he uses that knowledge leading the Product Development ... (click for more)

Storm Costs EPB $2.5 Million; Smart Grid Helped Ease The Pain

Tuesday night's fierce storm cost EPB an estimated $2.5 million, President David Wade said Friday. He said the city utility will have to bear all the cost - unlike when it got federal aid after spending $18 million following tornadoes that raked the Chattanooga area in 2012. Mr. Wade said EPB's Smart Grid helped ease the pain, bringing back online about 27,000 affected customers ... (click for more)

1 Killed, 1 Injured In Brainerd Shooting

One person was killed and a second person injured in a shooting in Brainerd on Thursday night. The call was to 3301 Pinewood Ave. at 7:05 p.m. It was reported that a silver vehicle was seen leaving the scene. One of the persons shot, 23-year-old Antonio Baldwin, died during surgery. The injury to William Daniel, 21, is not life-threatening. Police said both of the ... (click for more)

Repeal Obamacare, Congressman Fleischmann - And Response (2)

Chuck: I'm writing to express my strong opposition to the plan that is being rolled out by Paul Ryan to replace Obamacare. And as I'm writing this, I'm remembering all the times you and all of your Republican colleagues over the last six years campaigned on REPEALING  Obamacare and used that call to action as the basis for your reelection. And I'm also remembering the ... (click for more)

Roy Exum: The Scottsboro Boys

There is a good-sized train tunnel that runs under the northern tip of Lookout Mountain, right next to Cummings Highway. It was inside that tunnel on this very weekend 86 years ago, that the worst tragedy in the fabled history of the South was born. This was during the tight grip of the Depression and about two dozen hobos had jumped the train from the time it left Southern Railway's ... (click for more)