San Francisco-based 523 Capital announced last week that it completed the acquisition of its fifth party rental outlet on the East Coast within the last 12 months. Chantilly, Va.-based Event Rentals, which serves the metropolitan Washington area, was picked up in a deal that closed Dec. 31. The company will merge with 523's Capital Party Rentals, based in Dulles, Va., making the new entity the largest full-service event rental company in the Washington area, the company said in a statement.
"Event Rentals fits our strategy to build a regional network of party rental locations on the East Coast," said 523 Capital president John Moran. "We look forward to working with Dave Painter, Event Rentals' founder, and his dedicated team, who are committed to the highest level of customer service." 523 expects to re-brand its chain under one name this spring.
Moran, formerly head of Los Angeles-based Classic Party Rentals, added that he plans continued acquisitions this year.
A pretty party from Event Rentals