Peerless Events & Tents Recapitalized by Dunmore Capital Partners
Bratt Productions, operating as Peerless Events & Tents, with locations in Dallas, Houston, Austin and San Antonio, has been recapitalized by Dunmore Capital Partners, a private group of investors organized and led by Will Wright. The new entity resulting from the recapitalization is Peerless Events & Tents LLC.
Peerless was founded in 2005 by Brian Jenkins and Matt Cosby, primarily as a tent rental business in Dallas. During the following 12 years, the business expanded its breadth of inventory and services to include staging, flooring, tables and chairs, and during the past five years a full range of party equipment. In 2011, the company entered the Houston market. In 2013, Peerless acquired the Central Texas division of Double Eagle Sports & Events, then owner of Aztec Events & Tents based in Houston. Following that acquisition, Peerless further developed the Central Texas market by opening full service operations in Austin and San Antonio. The business now employees more than 100 full-time staff serving customers across Texas and surrounding states.
Concurrent with the transaction closing, Jenkins has retired from his daily operating role within the business. Cosby will continue as an operator and investor, overseeing companywide operations. Wright formed Dunmore Capital Partners for the exclusive purpose of acquiring a mid-sized business and building it into a strong industry player. With the backing of limited partners with extensive rental industry investment experience, Wright became familiar with the event rental business during his search for an acquisition. Now as CEO of Peerless with an investment group behind him, Wright intends to build it into a major regional event rental business.
Wright has an MBA from Northwestern University’s Kellogg School of Management. Previously he was an investment banking analyst with UBS Investment Bank and a private equity associate with Frontenac Co., a Chicago-based private investment firm focusing heavily on recapping family businesses.
Latek Capital Corp., an investment banking firm exclusively serving the rental industry for the past 28 years, initiated and managed the transaction on behalf of the sellers. All matters relating to the transaction should be addressed to: [email protected].
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.