PlayCore Acquires National Recreation Systems
Harvey & Company initiated the acquisition of National Recreation Systems, Inc. Below is the press release following the transaction:
PlayCore Acquires National Recreation Systems
December 16, 2011
, – 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 National Recreation Systems, Inc. (“NRS”).
NRS is a leader in angle frame bleacher system manufacturing, design and innovation, and offers a comprehensive line, including smaller portable aluminum bleachers, as well as larger seating systems incorporating aisles, accessible seating, ramps, and stairs.
National Recreation Systems will become a part of PlayCore’s Recreation Brands Group. Mark Burgess will continue to serve as Senior Vice President/General Manager for Recreation Brands, and Pat Hagan will continue as Director of the NRS business.
“We are excited about the addition of National Recreation Systems to the family of PlayCore brands and the opportunities to grow our bleacher and grandstand business with this acquisition,” said Bob Farnsworth, President and CEO of PlayCore. “NRS is committed to unsurpassed quality and excellence in customer service. With a full line that includes non-elevated, low rise, tip and roll, and transportable bleachers, NRS provides a meaningful increase in product offering to support PlayCore’s mission of building communities through play.”
Operations will continue from NRS’ 100,000 square foot manufacturing facility in Fort Wayne, IN, and will be supported by the Recreation Brands management team, located in Chattanooga, TN.
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.
About National Recreation Systems, Inc.
National Recreation Systems is an industry leader in aluminum bleacher design, manufacturing, and project management. The company provides quality, innovative seating systems solutions, and superior customer service from their 100,000 square foot manufacturing and warehousing facility in Fort Wayne, IN.
About Irving Place Capital
Irving Place Capital invests private equity capital in compelling buyouts, recapitalizations, and growth capital opportunities alongside superior management teams. Irving Place Capital focuses on making control or entrepreneur-driven investments in companies where we can apply our substantial operating 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.
