PRA, a portfolio company of CI Capital Partners, has acquired Koncept Events, an event planning company. No financial terms were disclosed.
CHICAGO, Feb. 21, 2019 /PRNewswire/ — PRA, a leading business event management company in the United States, announced that it has acquired Koncept Events of Fort Lauderdale, Florida. Through eight strategic add-on acquisitions completed under CI Capital’s ownership, PRA has established an end-to-end event management company and enhanced its service offering in key destinations such as New York City and Nashville. The acquisition of Koncept Events expands PRA’s presence in South Florida, where Koncept Events is a sector leader.
Koncept Events was founded in 2007 and specializes in event design, transportation solutions, entertainment, and a wide variety of interactive activities and experiences unique to South Florida, the Caribbean, and Mexico. The Koncept Events team has established strategic relationships with many leading hotels, event venues, and hundreds of business partners throughout the region in support of clients’ critical business objectives.
Koncept Events will now operate as PRA South Florida and continue to serve its core markets. Koncept Events’ founders, Hillary Smith and Angie Nelson, will continue in leadership roles within PRA. Smith will serve in the newly created role of Executive Creative Director for PRA and Nelson will serve as General Manager of PRA South Florida.
“It continues to be an exciting time at PRA as we expand our team in a region our clients value,” stated Tony Lorenz, CEO of PRA. “As a leader in a highly competitive landscape, Koncept Events has always brought their A-game to our sector of the business events industry. Koncept Events, now operating as PRA South Florida, delivers an even stronger solution in the important Florida market and beyond. The team is comprised of leaders who deliver creative and innovative experiences.”
Koncept Events’ Smith commented, “Our team takes enormous pride in the successful business we have built over the last 12 years. We have grown and thrived through ingenuity, tireless persistence for perfection, and dedication to our craft. As part of the PRA family, we will continue our devotion to our clients, our partners, and each other, through one-of-a-kind experiences. As a member of the market-leading PRA family, we are invigorated by what we can do together to redefine our important corner of the Business Events industry. We are committed to the growth strategy well underway at PRA. Our team will now have a stronger support system, and a broad footprint to activate amazing destination experiences anywhere in the world. We are thrilled about what the future holds for our business with PRA.”
PRA’s Lorenz added, “We have grown our business over the last two years through our alignment with the best talent this industry has to offer. Our team at PRA plays a leading role in our continued path to re-shape the overall Business Events landscape. We welcome Hillary, Angie, and their team to the PRA family in anticipation of our next exciting chapter ahead together.”
Tim Hall, Managing Director at CI Capital, said, “Tony and the PRA team continue to identify high quality, strategic partners for expanding the company’s geographic reach, service expertise, and client coverage. We look forward to continuing to support the company in its acquisition strategy.”
Headquartered in Chicago with 27 offices throughout North America, PRA is a leading business event management firm focused on creating experiences that move hearts, minds, and businesses forward. Through its ownership of events and communication agency One Smooth Stone, PRA offers integrated solutions for event experiences. PRA blends Passion, Reach and Authenticity to consistently deliver incomparable experiences that engage participants and exceed business goals. PRA’s reach runs deep, delivering value to millions of participants over nearly 40 years in every major destination across North America and beyond. Learn more at www.pra.com.
About CI Capital Partners
CI Capital Partners LLC is a leading North American private equity investment firm that has invested in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth, and operational improvements. Since inception, CI Capital and its portfolio companies have made over 315 acquisitions representing approximately $10 billion in enterprise value. For more information on CI Capital Partners, please visit www.cicapllc.com.