For sale multiregional full service
event production company; real estate available:
The Seller has grown this company with his team as the event production industry consolidated in the past several years. Then continued its growth through the Covid-19 period in 2021 and 2022. In the first half of 2023. As the economy is heading for a soft landing, this company is expected to continue its growth more moderately at about 8% vs. last year.
Nonetheless, the Seller is going forward with his decision to sell while he is willing to stay on to help transition the company's customer base.
Market presence: This company has a multi-regional presence extending from the Midwest to the Northeast, Southeast, and selected areas of the Southwest and West regions. The company is supporting its service capabilities from its own warehouses and via the use of independent sub-contractors (which is a well-established practice in this industry.)
Significant business segments: Event Producers, Sports Franchises, Universities, Businesses, Civic Organizations and Associations, Virtual Events, Equipment Rentals, and some Repairs.
Reason for sale: The founder of the company is approaching retirement age and would like to sell it at a time when he can stay around and assist in the transition process as well as serve as a consultant to the new owner while managing selected significant accounts as it might be needed.
Customer relationships & revenue history: This long-established company has had a loyal customer base with a variety of relationship durations ranging from less than 3 years to over 10 years. Some customers are serviced under multi-year contracts while others are under verbal agreements based on long-term relationships and mutual trust.
The company had a good 2019 year and entered 2020 ready to support growth. Instead, it used its financial strength to manage the Covid-19 Crisis. Then in 2021 catered to the need of the market to enjoy events. As a result, its 2021 sales came close to 2019. After successfully handling the Pandemic and thriving through 2021/2022, and having a healthy level of quote requests for 2023, the Seller feels comfortable handing over his company and management team to a new Owner.
SALES ($, 000) : 2019: $2,478K; 2021: $2,068K; 2022: 3.4 mil; 2023 (Pro-forma calculation based on 8-month YTD actual sales) $3.6 Mil (taking into account planned/confirmed events.)
