| Chattanooga,
TN – December 10, 2010 -- PlayCore Holdings, Inc.
(PlayCore), a leading designer, manufacturer, and marketer
of a broad range of playground, park
and recreation, and youth fitness programs and products and a portfolio
company of Irving Place Capital, is pleased to announce the acquisitions
of BigToys, Inc. and Spectrum Products, LLC. BigToys manufactures earth-friendly,
architecturally-focused, commercial playground equipment from sustainably
harvested wood or recycled steel and plastic. Spectrum Products manufactures
a broad array of affordable, state-of-the art, quality products, which
are used in the construction, operation, and maintenance of commercial
swimming pools and spas including specialization in assisted access lifts.
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BigToys
will be added to the family of PlayCore brands under the umbrella of
the Recreation Brands Group. The company will
continue operating in
Olympia, Washington and former owner, Tim Madeley, will continue to serve
as the company’s General Manager. The Recreation Brands Group will
be responsible for working with the BigToys management team on the sales
and marketing development of the business. Tim Madeley commented, "All
of us at BigToys are extremely proud to become a part of the PlayCore family.
We just celebrated our 40th year of business, and we are looking forward
to new growth opportunities for years to come as we continue our heritage
that aligns with the PlayCore mission and values."
Spectrum Products will
be added to the family of PlayCore brands under the umbrella of PlayCore’s
EverActive Brands Group. The EverActive Brands Group, under the leadership
of Tim Sudeith, will be responsible
for working with the Spectrum Products team, including Jerry McConnell,
on the sales and marketing development of the business. The company will
continue operating in Missoula, Montana. "We are very excited about
joining the PlayCore family of brands. Their leadership and reputation
for quality products and services, aligned with our commitment to quality
and innovation, will provide us meaningful opportunities to expand our
capabilities with new products and different markets," said Jerry
McConnell.
"We are
very excited about the addition of BigToys and Spectrum Products to the
PlayCore family of brands. They further expand our full
service product offering that is consistent with our mission of helping
'Build Communities through Play,'" said Bob Farnsworth, President
and CEO of PlayCore. "The addition of the BigToys brand expands our
Recreation Brands Group playground offering to include a leading brand
in the category of architecturally focused, environmentally friendly play
systems. Spectrum, now a part of our EverActive Brands Group, expands our
fitness focused products into the aquatic recreation category."
"PlayCore
is committed to advancing play through research, education, partnerships,
and a full array of product solutions," continued Farnsworth.
"These acquisitions, along with many new product innovations like our GameTime
PlayTrails introduction and the development of loose parts play with our
new Snug Play USA line, allow us to uniquely serve the diverse needs of
communities through an array of product solutions while demonstrating our
commitment to providing leadership in play."
About PlayCore:
PlayCore helps build stronger communities around the world by advancing
play through research, education, and partnerships. The company infuses
this learning into its complete family of brands – GameTime, UltraSite,
UltraShelter, UltraPlay, GT Grandstands, Snug, Play & Park Structures,
TotTurf, Everlast Climbing, and Swing-N-Slide. PlayCore combines best-in-class
planning and education programs with the most comprehensive array of
recreation products available to create play solutions that match the
unique needs of each community served. PlayCore's corporate headquarters
are located in Chattanooga, Tennessee. More information is available
about PlayCore, Inc. at www.playcore.com.
About BigToys:
BigToys is a commercial playground equipment company promoting environmental
awareness and responsible stewardship of natural resources. The company
specializes in the use of recycled, recyclable, and renewable materials
and enhances the lives of children up to 12 years of age. More information
is available about BigToys at www.bigtoys.com.
About Spectrum Products:
Spectrum Products manufactures and distributes a broad array of affordable,
state-of-the art, quality products which are used in the construction,
operation, and maintenance of commercial swimming pools and spas. The
company specializes in assisted access lifts and products for the therapy
and rehabilitation market. More information is available about Spectrum
Products at www.spectrumproducts.com.
About Irving Place Capital, Inc.:
Irving Place Capital invests private equity capital in compelling buyouts,
recapitalizations and growth capital opportunities alongside superior
management teams. Irving Place Capital focuses on making control or entrepreneur-driven
investments. Since its formation in 1997, Irving Place Capital has been
an investor in more than 50 companies and has raised over $4 billion
of capital, including its current $2.7 billion institutional fund. More
information about Irving Place Capital is available at www.irvingplacecapital.com.
For more information, contact:
Rick Ruegger, PlayCore 423.425.3166
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