By: Bill Bregar
June 4, 2014
The financial deals website peHUB.com is reporting that PlayCore Holdings Inc., the owner of playground rotational molder GameTime, is for sale.
The website reported May 29 that Irving Place Capital has put PlayCore up for sale. The news site links readers to a May 27 Federal Trade Commission document granting antitrust clearance to Sentinel Capital Partners to buy PlayCore, which is listed as PCH Holdings Inc. The news report also quoted three unidentified sources.
PlayCore is based in Chattanooga, Tenn. GameTime, in Fort Payne, Ala., makes commercial playground equipment, using metal and plastic components, including rotational molded parts such as slides. According to Plastics News ranking data, GameTime is the 25th largest rotomolder in North America, with rotomolding-related sales estimated at $19 million, from an estimated six machines.
A Sentinel Capital spokeswoman said the company has no comment. Irving Place Capital could not be reached for comment. Both private equity firms are in New York.
Irving Place Capital invested in PlayCore in 2007, during a buyout and recapitalization. Since then, PlayCore has made nine add-on acquisitions, of companies that make toys, climbing systems, grandstands, bike racks and other recreational products.