PRG and MBS Equipment Company to Form Strategic Alliance
MBSE to acquire PRG Paskal Lighting's equipment and PRG to become MBSE's preferred supplier of production services and technology
NEW YORK, Oct. 7, 2019 /PRNewswire/ -- Production Resource Group, LLC (PRG), the leading global provider of entertainment and event technology solutions, and MBS Equipment Company (MBSE), the world's largest studio-based equipment company, announced today that they will form a strategic alliance that provides MBSE premium access to PRG's vast technology-driven product lines to service MBSE's global studio platform.
Under the agreement, PRG will become MBSE's preferred supplier of a wide range of products and services in support of MBSE's studio-equipment business. MBSE will have access to the entirety of PRG's inventory, including automated luminaires, dimming, LED, audio, video, projectors, rigging, motors, proprietary technology, such as PRG SpaceFrame™ and GroundControl™ Followspot System, and customized solutions such as visual effects and Enhanced Environments.
Further, MBSE will purchase all of the assets of PRG's Paskal Lighting division, which includes a vast inventory of lighting and grip equipment and expendables.
The deal is expected to close within the next few weeks.
Jere Harris, Chairman & CEO of PRG said, "This partnership with MBSE advances our position as the leading supplier of technologically advanced services and solutions in media, entertainment and live events. We look forward to working with the MBSE team as a preferred resource to its customers."
"PRG's strong market presence and experience in moving and theatrical lighting provides a perfect fit for our stage-based equipment rental operations," added Richard Nelson, President and CEO of The MBS Group. Nelson added, "This is a great opportunity for us to maximize our relationship with PRG to better service our clients."
About Production Resource Group PRG is the world's leading provider of entertainment and event technology solutions and has the largest inventory of rental production equipment. PRG provides comprehensive and discreet services to an array of clients in the live music, TV/Film, Broadway, sports, gaming, corporate experiential and live events markets. Clients and partners depend on PRG's innovation, experience and depth of experience in audio, video, lighting, rigging, staging, and scenery and automation systems to bring their stories to life. With 70 offices across North America, South America, Europe, Middle East, Asia, and Australia, PRG has capabilities to provide services worldwide. PRG is owned by The Jordan Company, GSO Capital Partners and PRG Management. For more information, please visit https://www.prg.com/.
About MBS Equipment Co. MBS Equipment Company maintains one of the industry's most extensive inventories of LED and other lighting and grip equipment for film and TV production. MBSE is the world's largest studio-based production services provider, servicing over 35 studios and nearly 270 sound stages worldwide. As part of The MBS Group, MBS Equipment Company, along with MBS3 and Pinewood MBS Lighting, provide all the resources and equipment necessary for studio development, studio management, studio operations, and lighting and grip rental services.
SOURCE Production Resource Group