JEGI REPRESENTS ALLIEDPRA IN SALE TO CI CAPITAL PARTNERS
New York, NY, August 8, 2017 – AlliedPRA, the largest destination management company in the U.S. and a portfolio company of Core Capital Partners, has been sold to CI Capital Partners (“CI Capital”), a New York-based private equity firm. The management team of AlliedPRA will continue to lead the company and has a significant equity ownership in the company. Terms of the transaction were not disclosed.
JEGI (www.jegi.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, represented AlliedPRA in this transaction.
The destination management sector is a sub-segment of the $280 billion business events industry. The business events industry is comprised of corporate meetings and events, incentive travel programs, conventions and conferences. AlliedPRA supports its clients’ off-site business events by providing activity and transportation solutions, and other destination-specific services. AlliedPRA works closely with its clients, which include Fortune 100 companies, to ensure their business events are successful.
“Since its founding over 30 years ago, AlliedPRA has become the leading destination management company in the United States,” stated Tony Lorenz, Chief Executive Officer of AlliedPRA. “Together with CI Capital, we believe there is an opportunity to extend AlliedPRA’s scale and scope, creating more value for our customers in this critical area.”
“AlliedPRA is an impressive business, which we believe is well-positioned to consolidate the fragmented destination management industry,” said Timothy Hall, Managing Director, CI Capital. “We look forward to working with Tony and his team to execute their plan for AlliedPRA and help shape the future of this industry.”
Founded in 1981, AlliedPRA, is the leading destination management company in the US, with a reach to over 100 destinations, serving many of the most respected brands in every major industry sector. For more information, visit www.alliedpra.com.
About CI Capital Partners
CI Capital Partners LLC, a leading North American private equity investment firm with approximately $2.4 billion in assets under management, has been investing in middle-market companies since 1993. Since inception, CI Capital and its portfolio companies have made over 230 acquisitions representing over $8 billion in enterprise value. For more information, visit www.cicapllc.com.
About Core Capital Partners
With £218m funds raised to date, Core Capital Partners LLP is a UK private equity manager investing up to £25m per deal in the UK lower-mid-market. Core Capital partners with fast-growing businesses and ambitious management teams looking to scale their operations. For more information, visit www.core-cap.com.
JEGI has been the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors for over 30 years. Headquartered in North America, with offices in New York City and Boston, as well as London and Sydney (through its partnership with Clarity), JEGI has completed more than 600 high‐profile M&A and financing transactions, serving global corporations; middle‐market and emerging companies; entrepreneurial owners and founders; and private equity and venture capital firms. For more information, visit www.jegi.com.
“I have long admired JEGI for the work they do in the media and events space, especially. Now, through our work with them in the sale of AlliedPRA, I understand first-hand why JEGI’s reputation in our industry is so stellar. First and foremost, the JEGI team is comprised of good and extremely talented people. JEGI team members bring their best game every day (and some late nights) to the process underway. When that game is best-in-class, as it is at JEGI, great outcomes are realized. We were fortunate in this regard, and look forward to working with JEGI again as we move our business forward.”
– Tony Lorenz, CEO, AlliedPRA
“We use advisors on every deal we transact, and without doubt JEGI is right up there with the very best we have worked with. Given their track record, JEGI has a deep understanding of AlliedPRA’s market and this showed in their highly creative strategy throughout the sale process. We were particularly impressed that they continually anticipated one step ahead of the process, which not all advisors have the ability to do. JEGI were fundamental in helping to find the right buyer and in delivering value back to our investors during this transaction. I would not hesitate to use JEGI again in future deals.”
– David Steel, Partner, Core Capital Partners