Arena Events snaps up barriers specialist for £2.5m

Event design and delivery business Arena Events Group on Thursday expanded its UK product portfolio with the acquisition of barrier and fencing company Events Solution Limited.

The AIM-traded company said the acquisition, which cost a total of £2.5m, will see Events Solution integrated into its UK business, allowing for the continuation of relationships with customers such as British Cycling, Live Nation, and various local councils and music festivals.

On closing the deal, £2.2m of the total consideration will be paid, with the remaining £0.3m to be paid over the following 12 months.

Event Solutions' core products include pedestrian barriers, Heras fencing, Met police barriers, as well as gantries and staging equipment.

Greg Lawless, chief executive of Arena Events, said: "Building on our recent UK acquisitions of specialist furniture hire company, GLD, and temporary refrigeration supplier Ice House Rentals, the addition of Events Solution adds yet another in-house capability to Arena. This diversification extends our offering to existing clients as well as attracting new clients to Arena's other services."

In the year ended 31 March, Events Solution generated revenue of £1.5m pre-tax profit of £0.4m.

While Events Solution will continue to operate out of its current Worksop base, a statement from Arena Events said the company intends to expand the business and also offer its products from the Arena Events hub in Cambridgeshire.

As of 0839 BST, Arena Events Group’s shares were up 1.59% at 64p.