Power Systems, a 29-year-old distributor of fitness equipment based in Knoxville, is now under the ownership of PlayCore Holdings Inc., according to the Chattanooga-based playground and recreation company.
PlayCore said in a statement Monday that the acquisition is in line with PlayCore's growing interest and foothold in the fitness market.
PlayCore also said that day-to-day operations will resume at Power Systems' Knoxville plant, which employs 78 people. Power Systems was founded in 1986 by Bruno and Julie Pauletto and is located north of Interstate 40, just west of the I-40 and Interstate 75 split.
"Our growth story continues to evolve with strategic acquisitions that extend our reach and add value to our customers, and we are excited about this opportunity to increase our presence in the fitness market," said Bob Farnsworth, president and CEO of PlayCore.
PlayCore said Power Systems' daily operations will be supported by PlayCore's Chattanooga corporate office.
In PlayCore's release, Power Systems founder Bruno Pauletto said company officials "are excited about this next phase for Power Systems, as well as the opportunity for growth as part of the PlayCore family of brands."
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