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Saturday, February 16, 2008

PlayCore buys Arizona firm

Chattanooga-based playground equipment maker PlayCore Inc. has acquired an Arizona manufacturer of safety surfaces for recreational and athletic uses.

“Our main claim to fame is poured-in-place safety surfacing for playgrounds,” said Robertson Industries general manager Richard Hawley on Friday.

He said that with the help of PlayCore, Robertson can expand its product offerings and enter new areas. The purchase price was not disclosed.

Bob Farnsworth, president and chief executive of PlayCore, said that Chandler, Ariz.-based Robertson provides an opportunity to support PlayCore’s growth.

“We see this partnership as a significant step forward,” he said.

PlayCore employs about 30 of its more than 500 workers in Chattanooga. It also has a production plant in Fort Payne, Ala. Hoover’s estimates 2007 sales at $62.8 million.

Mr. Hawley said plans are for Robertson, which has 85 workers, to “vastly expand” its sales of $12 million.

Robertson makes and markets a product known as TotTurf. Mr. Hawley said the company has service centers mostly in the West except for Pompano Beach, Fla.

The acquisition by PlayCore will help Robertson align itself on the East Coast, he said.

“PlayCore’s delivery sales system will help us,” Mr. Hawley said.

PlayCore, which has its corporate offices in downtown Chattanooga’s 401 Building, was bought last year by private equity firm Bear Stearns Merchant Banking and company management.

Mr. Farnsworth said then that sales were driven by expansion of its consumer business in the ready-to-assemble wood kit category and new orders from its schools and parks business.

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