Saluting Chattanooga's MVPs
Chattanooga's downtown skyline took on a new look in 2017 with the tallest new building erected in decades added in the central city and several signature structures taking on new owners and uses.But far more than just the built environment was altered during the past year as a growing and shifting economy and workforce continued to change the way business is done in Chattanooga.The individuals who helped lead such changes and did the most to reshape the regional economy are our Most Valuable Players in business in 2017. The top 10 list includes those leading everything from volunteer programs to Chattanooga's biggest business and reflects the diversity of our changing economy.
A new headquarters downtown. A new owner. And continued growth.
That's been the story at Chattanooga-based PlayCore, the nation's largest maker of playground equipment, under new President and CEO Roger Posacki.
Posacki, the former head of Elmer's Glue, took the of helm PlayCore in August 2016.
He replaced Bob Farnsworth, who started with the privately held company 19 years ago when it only had seven employees in the corporate office - compared to about 105 now - and two factories. Farnsworth helped build PlayCore into a behemoth with 26 brands of playground and aquatics equipment, site furnishings, indoor and outdoor fitness, and spectator seating.
Posacki didn't miss a beat. PlayCore has acquired six companies since the start of 2017.
In the summer, PlayCore took on higher visibility in its hometown, as it moved its headquarters from sharing an office building at 401 Chestnut St. to leasing the former FSG Bank building at 531 Broad St.
Then in October, a New York City-based private equity firm, Court Square Capital Partners, purchased PlayCore from another private equity firm, Sentinel Capital Partners.
So what does the change of ownership mean for PlayCore?
"To be quite candid, nothing's changing," Posacki says. "We're going to keep investing in core growth and acquisition growth going forward. There's a lot of opportunity for future growth."
PlayCore also employs about 350 Chattanooga-area people at a production plant in Fort Payne, Alabama.
"If anything, we'll look to expand our operations in Fort Payne," Posacki says. "It's our biggest facility."