Classic Party Rentals Buys Firm
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Classic Party Rentals of El Segundo said Monday that it had acquired Prime Event Group, a provider of structural party equipment such as outdoor tents, lighting and flooring.
Terms of the deal between the two privately held companies were not disclosed.
Classic Party Rentals provides equipment -- such as glassware, flatware and linens -- for events including Hollywood award shows and celebrity weddings.
Its acquisition of Prime Event Group, based in Tucson, follows its November purchase of Torrance-based Aztec Tents & Events. Adding Prime Event Group will further enable the company to grow its structural equipment division, said John Campanelli, Classic Party Rentals’ chief executive.
Classic Party Rentals will now have more than 1,500 employees in 16 locations -- 10 in California -- and generate about $170 million in revenue annually, Campanelli said.
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