Arena Events Group plc acquires specialist furniture business GLD
Arena Events Group plc has expanded its product portfolio in the UK with the acquisition of specialist furniture hire business GLD Productions.
GLD supplies furniture to concerts, music festivals, fashion shows, sporting occasions and corporate hospitality events across the UK.
The company’s stock and staff will be incorporated into Arena’s Spaceworks Furniture Hire division at its Membury facility, with employees working under managing director Chris Piggott.
This acquisition, which is expected to add approximately £1.5m in annual revenue, is in line with the London-based Group’s strategy expanding its product range in order to create maximum value for its clients.
Grahame Muir, CEO Arena Group UK & Europe, commented: “Since our 2017 stock market flotation we have remained focused on strengthening our offering to clients. The addition of new products and a highly experienced team that GLD brings will help deliver further growth within this sector.
“We are delighted with this outcome and the opportunity to bolster our services within the live events marketplace in the UK.”
Graeme Dixon, GLD managing director, added: “We are delighted to join Arena Events Group. To become part of a public company is a validation of the work we have done and provides security of supply for our clients well into the next decade.
“We look forward to growing our business under the Arena umbrella.”