MIDWEST EVENT RENTAL COMPANY ACQUIRES TWO SOUTH FLORIDA RENTAL LOCATIONS
Event Source, leader in speciality event rentals, based in Cleveland, Ohio, purchases two South Florida-based Classic Party Rentals offices.
CLEVELAND, OH -- Event Source is elated to announce the acquisition of two Panache Party Rental locations in Pompano Beach, FL, and West Palm Beach, FL. After ten years, the company will go back under private ownership of JBK Group Inc., dba Event Source. Classic Party Rentals has owned the two Panache locations since 2007. These event rental locations will join Event Source's four existing territories in the Midwest: Cleveland, Ohio; Columbus, Ohio; Detroit, Michigan; and Pittsburgh, Pennsylvania.
"Adding a new hub to our company is a unique opportunity for Event Source to expand on our established and well-tested business model," said John Bibbo, President of Event Source. "This acquisition means even more depth to our product inventory, and will allow us to expand our reach throughout the state of Florida."
"Event Source has tenured, experienced staff ready to lead; and we have robust systems in place. We are in the best place ever in our company history to make a move like this," Jeremy Halaska, Vice President of Operations at Event Source commented. "We are excited to add to our infrastructure and staff; and we are confident to fold the operations under one umbrella without missing a beat."
"Our existing clientele can still expect the same world class customer service, product quality and superior logistics," said Debbie Halkovics, Event Source Vice President of Sales and Marketing. "We're also excited to bring that same level of expertise to the South Florida events market."
"Our team is thrilled to be back to private ownership roots," commented Will Rivera, General Manager of Panache. "We look forward to being a part of the employee-focused operations the Bibbo family has provided their staff for nearly four decades."
This acquisition will be a positive operational fit for both companies. An expansion that will double Event Source's headquarters is currently under construction with a finished facility of 150,000 square feet and will open in the winter of 2017-2018. Client-facing Design Centers are operated at the headquarters facility in Cleveland, as well as in Columbus and Detroit, with a Pittsburgh showroom also in the works. Through these concurrent efforts, Event Source can elevate its position in two regional marketplaces leveraging team leadership and resources.
Event Source has deep roots in the event rental industry, with President John Bibbo serving on multiple American Rental Association (ARA) panels, task forces, and recently completed a three-year term as the Party and Special Interest Group Chairman on the ARA of directors. Event Source has been recognized with numerous regional and national awards for leadership and excellence in the rental industry and earned five consecutive "Top Workplaces" honors by Workplace Dynamics.
Event Source was founded as "Taylor Rental" rental equipment supplier in 1979. In 1992, the business changed to "Taylor Rental Party Plus" as the inventory included event rentals. In 1997, Event Source shed the franchise and rebranded under its own moniker. The company is owned and operated by two generations of the Bibbo family, with the second generation, brothers John, Bryan and Kevin Bibbo serving as executive leadership.
Before being sold to Classic in July of 2007, Panache Party Rental Pompano Beach location was founded in 1992. The West Palm location was founded in 1990 and was purchased by Classic Party Rentals in February of 2007. The acquisition of both locations by JBK Group Inc. is effective immediately.
For more information about Event Source, visit EventSource.com or contact Event Source at 216.901.0000, firstname.lastname@example.org.