-- Production Resource Group to Acquire Gearhouse, L.L.C.
NEW YORK and DUBAI, United Arab Emirates, Oct. 21, 2014 /PRNewswire/ -- Production Resource Group, L.L.C. (PRG), the world's leading supplier of entertainment and event technology headquartered in New York, is acquiring Dubai-based Gearhouse, L.L.C., the largest provider of turnkey event production services across the Gulf Region. PRG Chairman & CEO Jeremiah J. Harris and Peter McCann, the Managing Director of Gearhouse, L.L.C jointly announced the acquisition today.
Gearhouse, L.L.C. has over the last decade established itself as the market leader in the region. A fact supported by an impressive client portfolio that includes international touring, leading global production companies, government agencies, and key regional venue partners.
For PRG's worldwide clients this acquisition means that they will now have access to a complete range of technical expertise and production resource solutions when working in the United Arab Emirates and Gulf Region. PRG is pleased that they can ensure that their clients can be confident in the quality of product, production expertise, and professionalism when working in this important and quickly expanding event location.
"By acquiring Gearhouse, we will be able to significantly increase our local support for our many customers that produce events and shows in Dubai and the Gulf Region", said PRG's Harris. "Now we can offer them the same high level of customer service and innovative, reliable technical solutions as our clients expect, wherever they are producing an event."
With immediate effect, Gearhouse, L.L.C. will be rebranded PRG Gearhouse and become a critical hub in PRG's network of over 40 locations in key cities around the world.
"We have a market here that is rapidly maturing and I regard the creation of PRG Gearhouse as a significant milestone in that process," comments Peter McCann, co-founder and Managing Director of Gearhouse, L.L.C. "Over the last 20 years, we have established a client base that has become more sophisticated in their expectations of the standard of delivery and of what production really means. As PRG Gearhouse we will be able to exceed their expectations as we will undoubtedly attract the best levels of talent to our region because PRG's reputation is second to none."
Tom Van Hemelryck, PRG's Vice President, Global Special Events, comments: "To say that we are delighted is an understatement. We foresee the exchanges of staff, equipment and expertise between PRG Gearhouse and other territories within the PRG group. We strongly feel that both our current clients and potential clients will greatly benefit from this blending of our two companies and our strong technical staff."
"I look forward to working closely with Peter and his team," Harris concludes. "PRG and Gearhouse are extremely well matched as both companies provide a multi-disciplined, integrated product. The joining of our two companies will be extremely beneficial to our clients and this has been our top priority from the start."
Subject to customary closing conditions, the closing of the acquisition is expected to be effective on October 31, 2014.
www.prg.com
