PRA Announces Acquisition of Event and Communication Agency One Smooth Stone
PRA Expands Its Service Offering Into Design and Production of Business Events
CHICAGO, Dec. 4, 2018 /PRNewswire/ -- PRA, a leading business event management company in the United States, announced today that it has acquired One Smooth Stone of Downers Grove, Illinois. For 23 years, One Smooth Stone has helped its global clients achieve strategic objectives by designing and producing brand-building events and campaigns. The acquisition combines PRA's on-the-ground, local event logistics and execution expertise with One Smooth Stone's creative approach to designing event content, effectively expanding PRA's event-related service offerings for its clients. One Smooth Stone is PRA's sixth add-on acquisition as a CI Capital Partners portfolio company.
"Today marks a new day in our endeavor to redefine our business to serve our clients," shared Tony Lorenz, CMM, Chief Executive Officer of PRA. "We have been asked by our clients to build a toolkit of solutions that will meet more of their needs in the delivery of business events, especially on a creative and production level. I have known the team at One Smooth Stone for many years and have always had high regard for their work and their culture. Their focus on service is completely in line with our core values at PRA."
Mark Ledogar, President at One Smooth Stone, stated, "PRA's strategy for the next generation of business events is spot-on. We now have a stronger support system and a broad footprint to activate anywhere in the world. Together, we provide an end-to-end, integrated solution that spans strategy, messaging, creative, and execution, which is compelling to clients of both organizations. The One Smooth Stone team is ready for an exciting journey ahead at PRA, anchored by our shared love of the live event experience."
Tim Hall, Managing Director at CI Capital, said, "The PRA team has thoughtfully expanded its service and geographic reach with acquisitions that have provided both local expertise in attractive destinations and high quality client coverage. We look forward to continuing to support the company as it now also expands its destination management service offerings to include event design and production capabilities."
About PRA
Headquartered in Chicago with 27 offices throughout North America, PRA is a leading business event management firm focused on creating experiences that move hearts, minds, and businesses forward. Through its ownership of events and communication agency One Smooth Stone, PRA offers integrated solutions for event experiences. 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 over nearly 40 years in every major destination across North America and beyond. Learn more at www.pra.com.
About One Smooth Stone
For more than 23 years, One Smooth Stone has created great experiences around the world for leading brands through the production of live events and content delivered in business events. As articulated by the agency's statement of purpose, "We Love Live" is the driving force behind all events and communication projects produced by One Smooth Stone, including strategic, creative, and production needs in product launches, global sales meetings, leadership conferences, customer and channel events, and employee engagement programs. For more information, visit www.onesmoothstone.com.
About CI Capital Partners
CI Capital Partners LLC is a leading North American private equity investment firm that has invested in middle-market companies since 1993. CI Capital forms partnerships with experienced management teams and entrepreneurs to build substantial businesses through add-on acquisitions, organic growth, and operational improvements. Since inception, CI Capital and its portfolio companies have made over 310 acquisitions representing approximately $10 billion in enterprise value. For more information on CI Capital Partners, please visit www.cicapllc.com.
Media Contact:
Daniel Yunger
KEKST
212.521.4800
SOURCE CI Capital Partners
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