PRA, an industry-leading business-event management company, has been acquired by EagleTree Capital, a private equity firm that also owns Northstar Travel Group. The deal will drive further investment in PRA’s market-leading services, including event design and strategy, digital engagement, production, content creation, vendor management, logistics, transportation, and more. The PRA management team will continue to lead the company.
“Since its founding over 40 years ago, PRA has become a leading business-event management firm in the United States,” said Mike Fiber, CEO of PRA, who joined the organization in 2017. “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.”
Noted for swift growth and industry-leading services, PRA is the winner of three consecutive Stella Awards in the Best DMC category. Bestowed by Northstar Meetings Group, the Stella Awards honor companies that consistently deliver superlative service and innovation across all sectors of the global meetings and events industry. (Nominations for the 2023 Stella Awards are being accepted now through March 17.)
In 2022, judges commended PRA for delivering unique experiences in destinations, onstage and on-screen, empowered by a holistic approach to event design that is anchored in strategy, conceived with creativity, produced with excellence and delivered authentically. The company also is committed to making a positive impact on communities and the planet. PRA signed the Net Zero Carbon Event pledge in 2022 to create a more sustainable approach to event design.
“PRA has built a strong reputation by creating unique and highly engaging programs for its diverse customer base and is well positioned to continue leading the business events sector,” commented Mike Struble, senior partner of EagleTree. “We look forward to working with Mike Fiber, the senior leadership and the talented team at PRA to support the company’s continued growth and help shape the future of this industry.”
Among EagleTree's other portfolio companies are ARC, which runs 150 events and more than 25 media properties; Sparks, a leading brand-experience agency that designs and fabricates innovative marketing solutions for trade shows and other events; and Moss, which has a division creating exhibits, trade show booths, rental products, signs, graphics and more for events.
PRA is headquartered in Chicago, with teams in every major destination across North America and beyond. EagleTree Capital is a leading New York City-based middle-market private equity firm with more than $5 billion of assets under management. Terms of the agreement were not disclosed.