CHICAGO and NEW YORK, March 7, 2023 – PRA, a leader in the Business Events industry, announced today that the company has been acquired by EagleTree Capital on behalf of its private equity fund EagleTree Partners V (“EagleTree”). EagleTree acquired the Company from CI Capital Partners, a New York-based private equity firm that invested in PRA in 2017. The PRA management team will continue to lead the company. Terms of the transaction were not disclosed.
PRA coordinates complex business events and programs on behalf of corporate clients across a variety of industries. PRA works closely with its clients, which include many Fortune 100 companies, to ensure their business events are successful and have lasting impact. EagleTree’s acquisition will drive further investment in the company’s market-leading offerings, enhancing the ability of PRA to support its blue-chip client base with its best-in-class services, including event design/strategy, digital engagement, content creation, production, vendor management, logistics/transportation, and more.
Mike Fiber, Chief Executive Officer of PRA, stated, “Since its founding over 40 years ago, PRA has become a leading business event management firm in the United States. After successfully navigating through the global pandemic, we continued to support our clients through a very challenging recovery in 2022, and ultimately delivered the most successful results in the company’s history. We are excited to continue to build upon this momentum and thrilled to have the support and partnership of EagleTree Capital.”
“We look forward to working with Mike Fiber, the senior leadership, and talented team at PRA, to support the company’s continued growth and help shape the future of this industry.”
BrightTower, a New York City headquartered investment banking and M&A advisory services firm, served as exclusive financial advisor to PRA in this transaction. Paul, Weiss acted as legal advisor to PRA and Jones Day acted as legal advisor to EagleTree.
PRA (pra.com)
Headquartered in Chicago with teams throughout every major and secondary market in North America, PRA is a leading business event management firm, creating in-person and digital experiences which move hearts, minds, and businesses forward. Through its strategic approach to creative design, production services and destination experiences, PRA offers end-to-end integrated service capabilities and solutions aligned with business meetings and events.
PRA blends Passion, Reach and Authenticity to consistently deliver incomparable experiences that engage participants and exceed business goals. PRA’s reach runs deep, delivering value to millions of participants for 40 years in every major destination across North America and beyond. For information on our complete portfolio of services, please visit PRA.com
