Bear Stearns Merchant Banking of New York and managers of PlayCore Holdings Inc. bought the playground equipment maker from an investor group led by Chartwell Investments of New York.
The deal was announced Feb. 22. Terms were not disclosed.
PlayCore subsidiary GameTime runs a rotational molding plant in Fort Payne, Ala., that focuses on commercial playground equipment. Plastics News estimated the business' sales at $15 million in 2005. Play & Park Structures, also aimed at commercial installations, also is based in Fort Payne. It too relies heavily on plastic components and also uses vinyl-coated metal for long-wearing decks. The Swing-N-Slide subsidiary makes residential playground equipment from thermoformed components, metal and wood in Janesville, Wis.
``We don't expect changes in manufacturing at Fort Payne,'' said GameTime marketing director Anne-Marie Spencer, in a telephone interview. ``It's business as usual.''