PlayCore Holdings, a designer, manufacturer, and marketer of play and recreation products, and a portfolio company of Irving Place Capital, today announced its acquisition of Colorado Time Systems, a provider of timing, scoring, and display systems.
Colorado Time Systems provides professional and amateur aquatic, recreation and athletic facilities with timing, scoring and display systems. Its products include aquatic timing products, LED full color video displays, LED single-color animation displays, ribbon/fascia boards, sport-specific scoreboards, and portable scoreboards. The company was founded in 1972 and is based in Loveland, CO (www.coloradotime.com).
Colorado Time Systems will become a part of PlayCore’s EverActive Brands Group and its general manager Anita Sayed will continue to be responsible for the company’s day-to-day operations as well as its future growth and expansion. Operations will continue from Colorado Time Systems’ manufacturing facility in Loveland, CO and will be supported by the EverActive Brands management team, located in Mendota Heights, MN.
“We believe PlayCore is the best company to acquire us because the synergies are a perfect fit and it gives Colorado Time Systems the ability to expand our reach to new markets and expand our product solutions to our current customer base,” said Ms. Sayed.
PlayCore is a playground equipment and backyard products company specializing in the design, manufacture and marketing of commercial and consumer outdoor playground equipment. The commercial play division markets modular and custom playground systems and components to municipalities, schools, parks and other playground systems users. The consumer division manufactures kits for wooden swing sets and climbing units, plastic slides and play set accessories. PlayCore’s corporate headquarters are located in Chattanooga, TN (www.playcore.com).
“We are excited about the addition of Colorado Time Systems to the family of PlayCore brands as well as the opportunity to increase our commitment to the aquatic industry and expand in the performance recreation category with this acquisition,” said Bob Farnsworth, President and CEO of PlayCore. “The company will be a valuable addition to help support our mission of building communities through play.”
Irving Place Capital invests in buyouts, recapitalizations and growth capital opportunities. The firm focuses on making control or entrepreneur-driven investments. Since its formation in 1997, Irving Place Capital has been an investor in 55 companies and manages over $4 billion, including its current $2.7 billion institutional fund. The firm is located in New York, NY (www.irvingplacecapital.com).
