Promus Equity Partners has made a minority equity investment in Event Network alongside the company’s management team.
Event Network is an operator of specialty retail locations at zoos, aquariums, science centers, children’s and cultural museums, gardens, iconic landmarks and historic sites. The company manages the entire retail experience of the store in concert with each venue’s unique theme and its services include custom product development, store design, merchandising and retail services. Event Network is headquartered in San Diego (www.eventnetwork.com).
Event Network was founded in 1998 and began with a store for the Titanic Artifact Exhibition in Boston. Larry Gilbert and Helen Sherman, co-founders of the company, led the effort to create a retail offering for Titanic (at the time, a fairly novel concept for museum exhibition retail).
“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 Mr. 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.”
Promus Equity Partners is a private equity investment firm affiliated with Promus Holdings, a multi-family asset management firm. Promus targets lower middle market companies with EBITDA’s of $15 million or less. Sectors of interest include consumer products, food & beverage, industrial products, manufacturing services, specialty materials, distribution, and business services. The firm is based in Chicago (www.promusequity.com).
Piper Jaffray & Co. (www.piperjaffray.com) was the financial advisor to Event Network.
© 2018 Private Equity Professional | January 25, 2018