Chattanooga, TN - July 24, 2012---- PlayCore Holdings Inc. (PlayCore), a leading designer, manufacturer, and marketer of a broad range of play and recreation products, and a portfolio company of Irving Place Capital, today announced its acquisition of Colorado Time Systems.
Colorado Time Systems provides premier athletic venues with quality timing, scoring, and display systems. Its products include world-class aquatic timing products, like the AquaGrip TouchPad and Relay Judging Platforms, LED full color video displays, LED single-color animation displays, ribbon/fascia boards, sport-specific scoreboards, and portable scoreboards.
Colorado Time Systems will become a part of PlayCore's EverActive Brands Group and their 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 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." Anita Sayed added, "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." 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. 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 the each community they serve. Learn more at www.playcore.com.About Colorado Time Systems Since 1972, Colorado Time Systems has been providing premier athletic facilities across the world with top quality timing, scoring and display systems. Throughout the years, the company has maintained a steadfast commitment to providing cutting edge scoring and display products for all venues. The solutions they provide can be found in professional and amateur aquatic, recreation and athletic facilities in over 120 countries around the world. Learn more at www.coloradotime.com. About Irving Place Capital Irving Place Capital is a middle-market private equity firm that invests in compelling buyouts, recapitalizations, and growth capital opportunities. The firm focuses on making control or entrepreneur-driven investments in companies where it can apply its substantial operating and strategic resources and expertise to enhance value. Since its formation in 1997, Irving Place Capital has been an investor in more than 55 companies and has raised over $4 billion of equity capital, including its current $2.7 billion institutional fund. More information about Irving Place Capital is available at www.irvingplacecapital.com.