Court Square Capital Partners has purchased PlayCore Inc., one of the largest U.S. playground equipment manufacturers, from Sentinel Capital Partners nearly two months after the firms were said to be in talks about a possible acquisition. Sentinel backed PlayCore in 2014.
Founded in 1979, PlayCore designs and distributes products for educational and recreational play. The target’s portfolio of playground structures includes: picnic tables, park benches, dog park equipment, spectator seating, sporting scoreboards, commercial pool equipment and bike storage amenities. The Chattanooga, Tennessee-based company has completed 14 add-on acquisitions since Sentinel’s initial investment. PlayCore previously operated under the Swing-N-Slide Corp. brand name before changing the company name in April 1998. Financial terms of the deal were not disclosed.
Court Square is a New York-based private equity that invests in business services, industrial, healthcare and technology and telecommunications sectors. With the purchase of Playcore, the PE firm will gain more than 27 playground equipment brands. Court Square has made other middle-market deals, including the acquisition of medical supply distributor NDC in 2016, and the selling of generic drug distributor Harvard Drug Group to Cardinal Health Inc. (NYSE: CAH) in 2015.
Sentinel is a middle-market private equity firm based in New York. The firm backs businesses with up to $65 million in Ebitda across the aerospace and defense, business services, consumer, distribution, food and restaurants, healthcare and industrial sectors. Busy with acquisitions, Sentinel recently acquired clothing distributor Cabi; home show operator Marketplace Events; marketing training company Corporate Visions; auto parts maker Driven Performance Brands; restaurant operator Fazoli’s Group; and relocation service provider Total Military Management. Harris Williams & Co. served as financial adviser to PlayCore and Sentinel.