Former Classic Party Rentals chief John Moran announced Saturday that his San Francisco-based 523 Capital made its second party rental acquisition this year, picking up Special Events Rentals, based in Raleigh, N.C. In January, Moran's company acquired Capital Party Rentals, based in Washington.
Founded in 1994, Special Events Rentals services all of North Carolina and portions of Virginia and South Carolina with a full line of party items plus tenting. Special Events and Capital are already sharing equipment, Moran reports.
"The Special Events team is awesome," Moran says. "Our general manager, Karen Williamson, and her dedicated staff will continue to take care of their clients."
For the time being, Special Events will keep its name, Moran tells Special Events Magazine. "We will likely re-brand both companies at the time of our third acquisition," he says. "We are excited to add other market leaders to our growing network on the East Coast."
Hageman, Stansberry & Associates assisted in the transaction.