Los Angeles-based Classic Party Rentals, the biggest event rental company in the U.S., announced today that it has acquired all five party rental outlets owned by 523 Capital of San Francisco. 523 Capital itself bought the outlets over the course of last year with the intention of creating its own branded chain in the Southeast, according to company founder John Moran. Terms of the deal were not disclosed.
The outlets are Capital Party Rentals (Dulles, Va.), Event Rentals (Chantilly, Va.), Special Events Rentals (Raleigh, N.C.), and Low Country Event Rentals (Hilton Head, S.C., and Savannah, Ga). Classic Party Rentals’ network now includes 34 locations nationwide. This acquisition marks Classic's entry into the Washington market.
Each new location has a Classic sister-store located within a few hours drive, allowing for access to additional inventory and resources, the company said in a statement.
"I’m not sure what I will do post-party rentals, but the world is full of opportunity," Moran tells Special Events. "It’s been an interesting ride, and it is nice to be associated with Classic again.” Moran is former head of Classic.
Classic said it will re-brand and continue to operate the businesses at the existing locations in Raleigh, Hilton Head and Savannah. In Washington, the Event Rentals and Capital Party Rentals teams will work together to provide greater client service and options, Classic said. Dave Stuckey (Capital), Dave Painter (Event Rentals) and Mike Davis (Low Country) will continue to lead their respective locations, Classic said.
