Also investing in the group and joining the board as non-executive directors will be Greg Lawless and Dermot Divilly, the industrial investors who have also invested in a number of other event companies including furniture supplier Spaceworks, Well Dressed Tables, Caterhire and Hireall in Ireland.
The Arena Group Companies are recognised as the very best in their respective fields; specialising in the provision of temporary and permanent seating, temporary structures, multi storey hospitality boxes and temporary support systems. Servicing many of the major events held in the sporting, exhibition and music market, parts of the group can trace their history back to the 1750s.
Arena Group Chief Executive David Walley said: "This deal is excellent news for employees and customers alike. I am delighted that our key staff have been able to invest in our group and be a part of our future. Our clients have been extremely supportive of this move, they understand the importance of our team and this deal underpins the commitment of them all."
Greg Lawless, investor and non-executive director commented: "Dermot and I have long been admirers of the team at Arena and the quality of product and service is recognised around the world. The opportunity to support the management team in their bid to buy the business was compelling. Now, with their current strong position secured, and additional investment planned, we are looking forward to significant growth in the future."
(Lee Baldock)
