PlayCore Announces Acquisition of Everlast Climbing Industries Inc.

PlayCore Holdings, Inc. (PlayCore), a leading designer, manufacturer, and marketer of a broad range of play and recreation products, and a portfolio company of Irving Place Capital, is pleased to announce the acquisition of Everlast Climbing Industries, Inc. Everlast Climbing is a leader in the climbing wall industry and is dedicated to enhancing the fitness of our youth. Since 1991, the Company has offered a comprehensive line of climbing wall systems for indoor and outdoor use as well as a complete selection of educational support services that include grant and fundraising support, additional value-addedwall features/enhancements, activity and assessment guides, cross-curricular programs, and individually tailored staff training.  Everlast Climbing is committed to the development of science-based best practice fitness programming and the creation of environments that encourage educational excellence.

Everlast Climbing will continue as an operating division of PlayCore in Mendota Heights, MN. Tim Sudeith will continue to serve as the company’s General Manager.  

“We are excited about the addition of Everlast Climbing to the family of PlayCore brands and the resulting expansion of our offerings. The Company provides the start of a new platform in youth fitness that is very exciting. Additionally, the partnership provides many opportunities to support the Company’s growth while also fulfilling PlayCore’s mission of providing leadership in the important area of play, recreation, and fitness products that enrich childhood,” said Bob Farnsworth, President and CEO of PlayCore. “We see this partnership as a significant step forward in the development of Everlast Climbing and PlayCore’s future growth potential and we look forward to working together with Tim and the management team.”  

“We believe that our shared passion and innovation will enable us to expand our core mission of enhancing youth fitness. Just as children can find success in play, all children can find a measure of success in climbing,” said Tim Sudeith, Everlast Climbing General Manager and PlayCore Vice President. “We are looking forward to working with PlayCore’s talented team and believe that collectively, we will be able to continue strengthening the company, our innovative products and educational resources, and our commitment to outstanding customer service.”  

About PlayCore PlayCore helps build stronger communities around the world by advancing play through research, programs, and partnerships. We infuse this learning into our complete family of brands.

We combine best in class planning and education programs with the most comprehensive array of recreation products available to create solutions that match the unique needs of each community we serve.

About Everlast Climbing Industries, Inc. Everlast Climbing Industries is a leader in the youth fitness industry and is committed to the development of best practice fitness programming and the creation of environments that encourage educational excellence. The company is headquartered in Mendota Heights, MN. More information is available about Everlast Climbing Industries, Inc. at www.everlastclimbing.com. 

About Irving Place Capital Irving Place Capital, formerly known as Bear Stearns Merchant Banking, 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. Since its formation in 1997, Irving Place Capital has been an investor in 68 portfolio companies, and has managed equity commitments in excess of $5 billion, including its current $2.7 billion institutional fund.  Existing investments include: Alter Moneta, Balducci's, CamelBak Products, Caribbean Financial Group, Cavalry Investments, Churchill Financial Holdings, Doral Financial Corporation (NYSE: DRL), MC Shipping, Multi Packaging Solutions, New York & Company (NYSE: NWY), PlayCore, Rimrock Energy, Stuart Weitzman, Transamerican Auto Parts Company, Universal Hospital Services and The Vitamin Shoppe. Prior investments include Aearo Technologies, Aéropostale (NYSE: ARO), Reddy Ice Holdings, and Seven For All Mankind, among others. More information about Irving Place Capital is available at http://www.irvingplacecapital.com.

For more information, contact:    Rick Ruegger, PlayCore (423) 425-3166

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