A group sponsored by Houston-based private equity firm Milestone Capital acquired Aztec Events & Tents, based in Houston, and Shaffer Sports & Events, based in Birmingham, Ala. Aztec has been owned by Todd Johnson for 20 years, who also owned Shaffer for the past 12 years.
Aztec specializes in everything from backyard parties to large gatherings. Shaffer specializes in sporting events, providing temporary structures, floors, seating and furniture.
The acquirers are led by A. Kelly Williams and Michael Hanks, who said they don’t intend to change the direction or operations of either business and intend to retain all current employees and work with its existing management team.
Aztec was founded in the late 1960s and was acquired by Johnson in 1995. Shaffer is a large PGA Tour vendor, supplying the tournaments with hospitality structures and grandstands, and works on many automobile and horse-racing events.
“Both companies have a great name in their respective industries and I have enjoyed owning and growing the companies over the last two decades,” said Johnson. “I found that it was time to hand the reins over to a very experienced and capable group led by Kelly Williams and Mike Hanks so they could take the companies to the next level.” Johnson will continue to be involved with the companies for a significant period of time in a consulting role.
Milestone Capital intends to grow both businesses, the company said.
Ed Latek of Latek Capital Corp. advised Aztec with the transaction. Latek’s firm focuses on acquisitions and divestitures of party and equipment rental businesses.