Arena Events Group PLC - London-based bespoke turnkey temporary structure builder - Completes acquisition of event rental company Aztec Shaffer after a successful bid of USD25.6 million earlier this month. Says the acquisition was funded by Arena's equity contribution of USD3.4 million for its 50% equity stake in NewCo and a debt financing package from its co-bidders totalling USD18.3 million. Arena says it will immediately start to work with Aztec's senior management to rebuild the business back to pre-Covid levels.
"The acquisition will broaden the group's North America tenting presence operating from a brand new, purpose built operational facility in Houston, Texas, extending the group's US event furniture rental business operating from a warehouse and showroom facility based in downtown Houston, the fourth largest city in the US," says Arena Chief Executive Greg Lawless.
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By Zoe Wickens; zoewickens@alliancenews.com
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