Representatives of Party Plus of Atlanta, a division of Houston-based Stellar Event & Presentation Resources, announced today that the company has been acquired by Worldwide Rents Inc., an affiliate of Atlanta-based Atlanta Party Rental. Party Plus, a market leader in the Atlanta area, has been in business more than 35 years and has been owned by Stellar since 1998, according to company reports.
“Party Plus has a great reputation in the Atlanta area,” said Chris Stenglein, president of Worldwide Rents. “This acquisition places Party Plus and Atlanta Party Rentals as the clear market leader in the Atlanta area. We’re excited about the choices we can now offer the customers of both Party Plus and Atlanta Party Rentals.”
“We plan to focus our business in other markets where we have more critical mass,” said Jeff Sangalis, chairman of Stellar. “Party Plus was a good, profitable business for us; it just didn’t fit geographically with our future plans.”
Brenda Maynard, general manager and longtime employee of Party Plus, will remain with the company. “Brenda staying on was important to us,” said Rich Crabtree, chief financial officer of Worldwide Rents. “We will continue to run Party Plus and Atlanta Party Rentals as two separate entities for the immediate future.”
Terms of the sale were not disclosed. Stellar was represented by Gary Stansberry and Fred Hageman of Hageman, Stansberry & Associates of Arlington, Texas, and Cameron Park, Calif., a mergers and acquisitions firm specializing in the rental industry.
