Arena Events Group plc announced Friday the acquisition of specialist furniture hire business GLD Productions which is expected add approximately £1.5m in annual revenue.
Grahame Muir, CEO Arena Group UK & Europe said:
'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 said:
'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.' GLD supplies furniture to concerts, music festivals, fashion shows, high profile sporting occasions and corporate hospitality events across the UK.
'GLD'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.'
At 8:37am: (LON:ARE) Arena Events Group Plc Ord 1p share price was -1.5p at 57.5p