CE Rental, a portfolio company of Dubin Clark, has acquired Liberty Party Rental.
Liberty Party Rental provides a wide array of event rental equipment including china, tables, chairs, tents, linens, dance floors, bars, and catering equipment. The company serves customers in the mid-South with a specific service area of Middle Tennessee.
Liberty Party Rental was founded in 1984 and has four locations, totaling over 65,000 sq. ft. of combined warehouse and showroom space, with a headquarters located north of Nashville in Hendersonville, TN (www.libertypartyrental.com).
CE Rental is a provider of event rental equipment including linens, fine china, flatware, dinnerware, tents, tables, and chairs. The company serves customers in the mid-Atlantic market. CE Rental was founded in 1952 and is headquartered in Raleigh, NC (www.cerental.com).
“We are enthusiastic about the addition of Liberty Party Rental to the CE Rental family,” said James Auerbach, Senior Vice President at CE Rental. “Geographically, Liberty is the perfect complement to partner with our existing event rental locations in North Carolina, South Carolina, and Virginia.”
The buy of Liberty is the fourth add-on acquisition completed by CE Rental since being acquired by Dubin Clark in February 2017. The three earlier acquisitions were Skyline Tent (Charlottesville, VA and Charleston, SC), Capital Party Rentals (Dulles, VA), and Festive Fare Rentals (Charlottesville, VA).
“The addition of Liberty continues CE Rental’s growth throughout the Southeast. By expanding into Tennessee the CE network of affiliated locations will have the increased capacity to service all customers and partners in the region,” said Brent Paris, Managing Partner at Dubin Clark.
“The Liberty team is excited to introduce and welcome the CE Rental family of companies to Nashville and Middle Tennessee. With Nashville’s explosive growth, especially in the hospitality industry, this strategic partnership will allow us to further expand our product offerings and inventory depth,” said Bruce and Julie Hurst, owners of Liberty Party Rental, in a released statement. Both Bruce and Julie will remain involved in the management of the business post-closing.
Dubin Clark invests in companies that have from $10 million to $100 million in sales and at least $2 million of EBITDA. Sectors of interest include manufacturing, value-added distribution, and services. In July 2017, the firm closed its oversubscribed second fund, DCCP Fund II LP, with more than $100 million of capital commitments. Dubin Clark has offices in Boston, MA and Ponte Vedra Beach, FL (www.dubinclark.com).
© 2018 Private Equity Professional | April 16, 2018
