- CI Capital first invested in PRA in 2017
- CI Capital is a North American private equity investment firm dedicated to investing in middle-market firms
- EagleTree Capital is a New York-based middle-market private equity firm
CI Capital Partners has sold its portfolio company PRA, a business event management company, to EagleTree Capital. No financial terms of the transaction were disclosed.
PRA offers end-to-end event planning, creative and production services across in-person and digital formats. The firm is headquartered in Chicago.
PRA’s management team will continue to lead the company.
“PRA represents a great opportunity for EagleTree to leverage its experience investing in travel, trade shows and conferences and event services,” said Anup Bagaria, co-managing partner of EagleTree.
PRA completed nine add-on acquisitions and saw a nearly three-fold increase in its revenue and EBITDA during CI Capital’s investment period. CI Capital Partners invested in PRA in 2017.
“CI Capital is proud to have collaborated with PRA for more than five transformative years, driving growth and resilience through the Covid-19 pandemic to achieve the best year in PRA’s history in 2022,” said Fred Iseman, chief executive officer of CI Capital.
CI Capital assisted in accelerating PRA’s footprint across key US markets, enhancing its digital event capabilities, and making strategic investments in its technology systems, according to a release.
CI Capital is a private equity investment firm dedicated to investing in middle-market companies with more than $2.4 billion of invested capital. The firm is based in New York.
EagleTree Capital is a New York-based middle-market private equity firm. The firm manages more than $5 billion of assets.
Jones Day provided legal advice to EagleTree.