FOR IMMEDIATE RELEASE: PRO EM PARTY & EVENT RENTALS ACQUIRES UNIVERSAL RESOURCE SUPPLY, LLC AND SOCAL TENTS & EVENTS
Phoenix, Ariz. – PRO EM Party & Event Rentals (PRO EM) has acquired Universal Resource Supply, LLC and SoCal Tents & Events (URS), a Los Angeles-based event rental company. The purchase of URS marks the second acquisition in the last 45 days by PRO EM, which also recently acquired Illinois-based Partytime-HDO Productions in May. Financial terms of the acquisitions will not be announced.
In October 2016, Dos Rios Partners, a Texas-based private equity firm, recapitalized PRO EM. Following the recapitalization, PRO EM immediately began pursuing synergistic acquisition opportunities in other markets. The acquisitions of URS and Partytime-HDO Productions expand PRO EM’s footprint of operations and menu of services while also increasing product inventory and offsetting seasonality.
“The acquisition of URS is another exciting milestone for us,” said Brady Castro, President and Chief Executive Officer of PRO EM. “I have known URS CEO Richard Martin personally and professionally for years, and he is one of the most well-respected professionals in our industry. The acquisition of URS brings with it complementary inventory, great people, a reputation for excellence and a California base of operations to complement our existing locations in Arizona and Illinois.”
Established in August 2007, URS is a nationwide event rental company specializing in major event planning and execution. Current and recent Universal Resource Supply event partners include: McDonalds, the MGM Grand Hotel, Olympics (Winter and Summer), USGA, the Susan G. Komen Foundation, the American Cancer Society, US Open Tennis, NASCAR, Microsoft, IBM, the Grammys, the Oscars, and the Super Bowl, among others.
PRO EM will continue to operate URS offices in Los Angeles, and all URS employees will remain with the company. Current URS CEO Richard Martin, a 27-year industry veteran, will remain with PRO EM Party & Event Rentals, serving as Principal with his primary focus on the current URS operations.
“Richard Martin and the entire URS team bring tremendous value to PRO EM and Partytime-HDO with additional expertise, territories and markets that complement the excellence already in place – the addition of the entire URS team enhances our stakeholders’ value immediately. We are excited about the new organization and what it has to offer in the marketplace,” said Kevin Benoit, Partner, Dos Rios Partners.
“This is an exciting moment for the entire URS family to be joining the PRO EM organization – a team I have known, respected, and worked alongside for many years,” said Richard Martin. “I am proud to rejoin PRO EM in this new era, and I am looking forward to the great things we can do together for our customers and employees.”
For more information on Universal Resource Supply/SoCal Tents & Events, visit www.socaltents.com.
ABOUT PRO EM PARTY & EVENT RENTALS
Founded in 1987 and headquartered in Phoenix, PRO EM serves as a single, one-stop source for events of any size. Whether searching for an event management company, event rentals such as tents, tables and chairs, commercial services or all three, PRO EM’s knowledgeable team is ready to make any event a complete success.
In May 2017, PRO EM acquired Chicago-based Partytime-HDO Productions, combining two event leaders and expanding their collective footprint to include more events in a larger region of the United States.
Today, PRO EM and Partytime-HDO service more than 6,000 events annually ranging from largescale nationally-televised sporting events, concerts and festivals to smaller and more intimate corporate meetings, weddings and social gatherings.
For more information on PRO EM, visit www.proem.org or call (480) 507-0999.
ABOUT DOS RIOS PARTNERS
Dos Rios Partners is a Texas-based private equity partnership formed to invest in the junior (i.e., common, preferred and/or mezzanine) securities of proven, growing niche businesses with approximately $2 – $10 million in EBITDA, generally alongside strong, motivated sponsors and management teams. Dos Rios can help these small businesses with either control or non-control transactions.
Dos Rios is strategically located in three major metropolitan areas and five major cities (i.e., Austin/San Antonio, Dallas/Fort Worth and Houston).
For questions or inquiries, please contact Kevin Benoit or Joseph Mercer at (512) 298-0801 or visit http://www.dosriospartners.com.