Power Systems, a supplier of fitness, strength training and sports conditioning products, was acquired by PlayCore Holdings Inc., a manufacturer of recreation products. Terms were not disclosed.
In an announcement released Monday, PlayCore said day-to-day operations will continue from the Power Systems facility in Knoxville, TN, and will be supported by PlayCore's management team from its corporate office in Chattanooga, TN.
"We are excited about this next phase for Power Systems as well as the opportunity for growth as part of the PlayCore family of brands," said Bruno Pauletto, who founded Power Systems in 1986.
Bob Farnsworth, president and CEO of PlayCore, said Power Systems increases the company's presence in the fitness market.
The Power Systems deal is the second acquisition on the vendor side of the industry so far in 2015. Last Friday, ECORE International, Lancaster, PA, announced its acquisition of Centaur Floor Systems, Santa Barbara, CA. Centaur Floor Systems, formed in 1997, has been a longtime ECORE customer.