Promus Equity Partners has acquired a minority stake in San Diego-based Event Network, an operator of specialty retail locations at at aquariums, science centers, museums and other cultural attractions in North America. No financial terms were disclosed. Piper Jaffray & Co advised Event Network on the transaction.
CHICAGO, January 19, 2018 – Promus Equity Partners is pleased to announce a minority equity investment in Event Network LLC alongside the company’s management team. Based in San Diego, Event Network is the leading operator of specialty retail locations at aquariums, science centers, museums and other cultural attractions in North America. The company serves approximately 100 partners across the U.S. by managing the entire retail experience in concert with each venue’s unique theme. Event Network provides custom product development, store design, merchandising and retail solutions to heighten the overall experience and create lasting memories for patrons to its partner attractions.
Promus was eager to invest in this mission-driven company because of its remarkable reputation, culture of uncompromising integrity, total commitment to store quality, and prioritization of people, partners and patrons. Steve Brown, a partner at Promus, described the transaction process as “one of mutual respect where we ended up admiring the company even more than we did six months ago when we embarked on a comprehensive due-diligence process. The Event Network team is committed to providing outstanding service and a customized solution for each new opportunity.”
“Event Network has clearly arrived at the right place, at the right time and with the right partners, and we look forward to an exciting future with our expanded Promus-Event Network family,” said Larry Gilbert, co-founder and CEO of Event Network. “We appreciate that Promus is willing to invest over an extended period, since we see so many opportunities for long-term growth.”
Event Network will maintain its workforce, culture and strategy following the Promus investment. It will continue to build new partnerships with world-class cultural attractions.
Event Network was advised by Piper Jaffray & Co., while Snell & Wilmer provided legal representation. Reinhart Boerner Van Deuren provided legal counsel to Promus.
About Promus Equity Partners
Promus Equity Partners is a private equity firm affiliated with Promus Holdings, a Chicago-based multi-family office. Promus targets healthy lower-middle-market companies with a strong value proposition and outstanding growth prospects. Promus team members are proven investors with wide-ranging experience over numerous economic cycles in a variety of industries. As a family office with a flexible investment mandate, Promus thinks creatively and allows each opportunity to guide its investment structure and duration without the constraints imposed by traditional private equity funds. Its success relies on partnering with managers and business owners to collaboratively develop plans to accelerate growth and increase value. As a family of investors, Promus shares a common vision to build a portfolio of outstanding businesses. For more about Promus Equity Partners, contact Steve Brown at email@example.com or Sarah Wuellner at firstname.lastname@example.org.
About Event Network
Event Network is the leading operator of gift shops for aquariums, museums, science centers, botanical gardens and other highly regarded cultural attractions. The company serves museums (art, science, natural history, children’s and cultural), zoos, aquariums, gardens, iconic landmarks and historic sites. Event Network’s talented team works exclusively to merchandise and operate great stores. It’s proud to serve millions of cultural-attraction guests every year.