Frederick, Md.-based Signature Special Event Services today announced the acquisition of all tent rental assets of Los Angeles-based Academy Tent & Canvas. The $2.1 million acquisition has been approved by a California bankruptcy judge, the company reported. Academy closed its doors in February.
The acquisition substantially increases Signature’s temporary structure rental inventory and strengthens its industry leadership position, the company said.
“We worked quickly to acquire Academy’s inventory to assure that it would be available to meet upcoming event industry requirements,” said Tom Brown, Signature's president. “Our two companies had shared responsibilities with many of the same clients. Acquisition of this innovatively engineered, high-quality tent inventory allows us to offer continuing services to those clients and accelerate our own growth plans.”
Signature plans to keep the newly acquired tent rental inventory strategically positioned nationwide. “We’re analyzing event forecasts now to ensure that these assets are close to where they need to be,” Brown added. “We want previous Academy clients to be assured we are looking out for their needs.”
