Last week, investment company Sverica International, with offices in San Francisco, Boston and Montreal, finalized its acquisition of Phoenix-based Arizona Tents & Events and Tucson, Ariz.-based Party Concepts. Terms were not disclosed.

Sverica management says it has teamed with local management of the two companies and is planning to invest in and build the operations in Arizona. "We are delighted to have made this investment in a terrific market," said Sverica managing director Martin S. Steber, "and along with local management and staff have plans to build an even better company with a clear focus on customer service and providing excellent equipment to our customers."

"Having built Party Concepts in Tucson over many years, it was time for others to take it to the next level," Party Concepts president and CEO Miguel Levy tells Special Events Magazine. "I am happy to have teamed up with Sverica International and am excited about the opportunity for Party Concepts and Arizona Tents & Events to work closely together going forward. Our entire team is staying in place and will play an important role in the future growth of the combined company."

Both companies offer a range of tenting along with linen and tabletop items.

CLASSIC KEEPS GROWING

Making good on its promise to keep up its brisk pace of acquisitions, Los Angeles-based party rental giant Classic Party Rentals announced last week that it acquired Parties a la Carte, the party rental division of Buellton, Calif.-based Valley Tool Rental.

“Our exciting growth--and the addition of a new facility within the Santa Ynez [Calif.] Valley--continues to reaffirm our commitment to California’s Central Coast, which is an important regional market in the event rental industry,” said John Campanelli, CEO of Classic Party Rentals. “Along with the Parties a la Carte team, Classic Party Rentals shares a passion for helping others create lifelong memories through unforgettable special events. We are extremely excited to begin working with more customers throughout this region.”

Photo by iStockphoto.com/© Brandon Alms