Posted Jan 22, 2008

Event Solutions has created the annual Event Solutions Editors’ Choice Awards as a way to recognize the people and companies doing great things in our industry.

Each year, the editorial team will select two individuals or companies that during the past year have distinguished themselves as innovators or trendsetters in the events industry for this recognition.

Innovating and trendsetting are the very definitions of the people and companies in this industry, so choosing those that stand out is quite an undertaking. But occasionally, an innovation or trend comes along that changes the way the entire industry works and recognition of those responsible is imperative.

For 2008, the editorial team has selected the Aqua FX water screen as the 2008 Event Solutions Editors’ Choice Award for Innovation; and Classic Party Rentals as the 2008 Event Solutions Editors’ Choice Award for Trendsetting.

Classic Leads Consolidation Trend

Classic Party Rentals, with John Campanelli at the helm, has acquired some 15 party rental companies in the past 18 months to become the largest party rental company in the United States with well over $300 million in rental volume.

By some estimates, the late December purchase of Chicago Party Rental alone added $30 million in sales, and Campanelli says the buying isn’t done yet, either. Already, the consolidation has left no other companies in the sector that would be considered national in scope.

To be sure, there are still plenty of regional and local party rental equipment outlets to compete with Classic, and they still have the ability to compete with the larger Classic on local customer service grounds and in other ways.

Most industry observers see Classic’s strategy not as a hindrance to the industry, but rather a sign of its health. Indeed, Classic isn’t the only entity on the prowl for event rental firms to acquire. Notably, 523 Capital, an investment group led by former Classic CEO John Moran, also is buying itself into regional prominence in some areas of the country.

But there can be no question that Classic and its investors have led the remarkable consolidation trend in the event rental segment.

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