Chattanooga-based PlayCore acquires Colorado company

Chattanooga-based PlayCore acquires Colorado company

July 25th, 2012 by Mike Pare in Business Around the Region

Bob Farnsworth, C.E.O. of PlayCore company

Photo by Matt Fields-Johnson/Times Free Press.

PLAYCORE DEALS

In the past five years, PlayCore has purchased eight other companies, including:

2012 -- Colorado Time Systems

2011 -- National Recreation Systems

2010 -- Big Toys, Spectrum Aquatics

2009 -- GT Grandstands

2008 -- Everlast Climbing, Ultra Play, Tot Turf

Source: Playcore

Chattanooga-based playground equipment maker PlayCore has made another acquisition with the purchase of Colorado Time Systems, which sells timing, scoring and display systems for athletic venues.

The purchase of the company, whose offerings include aquatic timing products, is PlayCore's eighth in the past five years.

Terms of the deal were not disclosed.

But Bob Farnsworth, PlayCore's chief executive, said Tuesday the purchase is "a valuable addition."

He said in a news release that adding Colorado Time Systems increases PlayCore's commitment to the aquatic industry and expands its performance recreation category.

Colorado Time Systems employs about 50 people and has a manufacturing facility in Loveland, Colo. Founded in 1972 by former Hewlett-Packard engineers, the Colorado firm has installed its equipment in 120 countries, according to PlayCore.

While PlayCore is known for commercial and residential play equipment, it has grown its presence in fitness, aquatic equipment and recreational resurfacing.

"Colorado Time Systems provides us with an opportunity to increase the synergy recognized with our Spectrum Aquatics brand," said Anne-Marie Spencer, PlayCore's vice president of marketing and communications.

Anita Sayed, the Colorado company's general manager, said in a statement that the deal gives her business "the ability to expand our reach to new markets and expand our product solutions to our current customer base."

Colorado Time Systems makes the AquaGrip TouchPad, LED full-color displays, LED single-color animated displays as well as sport-specific and portable scoreboards.

PlayCore, which is owned by the private equity firm Irving Place Capital, has headquarters operations in Chattanooga and a manufacturing plant in Fort Payne, Ala.

Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.