PlayCore Buys GT Grandstands

PlayCore Holdings Inc., a Chattanooga, Tenn.-based portfolio company of Irving Place Capital, has acquired GT Grandstands Inc., a Plant City, Fla.-based maker of grandstands and bleachers. No financial terms were disclosed.

PRESS RELEASE
PlayCore Holdings, Inc. (PlayCore), a leading designer, manufacturer, and marketer of a broad range of playground, park and recreation, and youth fitness products, and a portfolio company of Irving Place Capital, is pleased to announce the acquisition of GT Grandstands, Inc. GT Grandstands is a leading designer/manufacturer of grandstands and bleachers for all applications of spectator seating and offers a wide range of standard products and custom designs with outstanding quality.

GT Grandstands will be added to the family of PlayCore brands and products under the umbrella of the Ultra Play Division and New Business Development Group. The company will continue operating in Plant City, FL and Greg Buckner will continue to serve as the company’s General Manager reporting to Mike Moll, PlayCore’s Vice President and General Manager of Ultra Play. Mark Burgess, PlayCore’s Corporate Vice President of New Business Development, will be responsible for working with the GT Grandstands management team on the sales and marketing development of the business.

Greg Buckner, General Manager of GT Grandstands, expressed, “We are pleased and encouraged about joining the PlayCore team. All of our employees pride themselves on quality and service to our customers and we look forward to working with a team that is also committed to leadership in the industries it serves.”

“We see this partnership as a significant step forward in the development of GT Grandstands, PlayCore and our Ultra Play Division’s future growth potential and we look forward to working together with the management team of GT Grandstands,” said Bob Farnsworth, President and CEO of PlayCore. “We are excited about the addition of GT Grandstands to the family of PlayCore brands and the resulting expansion of our grandstand and bleacher offerings. The partnership provides many opportunities to support the company’s growth and its distribution partners while also fulfilling PlayCore’s mission of providing leadership in the important areas of play, recreation, and youth fitness that enrich life through play.”

About PlayCore:

PlayCore is a leading designer, manufacturer, and marketer of a broad range of commercial and consumer playground and park equipment, surfacing, site amenity, fitness, and related play products. The business operates under the GameTime, Play & Park Structures, and Ultra Play commercial brands, the award-winning consumer brand of Swing-N-Slide, the surfacing brand of TotTurf, and the youth fitness brand of Everlast Climbing Industries. PlayCore’s corporate headquarters are located in Chattanooga, Tennessee. More information is available about PlayCore, Inc. at www.playcore.com.

About GT Grandstands, Inc.:

GT Grandstands is a leading designer/manufacturer of grandstands and bleachers for all applications of spectator seating. The company offers a wide range of quality standard products and custom designs to meet all recreational seating needs. More information is available about GT Grandstands, Inc. at www.gtgrandstands.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 68 portfolio companies, and manages over $4 billion, including its current $2.7 billion institutional fund. More information is available at www.irvingplacecapital.com.