The seven-figure investment spearheads Altrad's move into the entertainment sector via Altrad Beaver 84 Ltd, which operates from 12 UK locations. Star Events becomes a subsidiary of Altrad Beaver 84 but will stay based at its own Bedford premises.
Chairman Dr Mohed Altrad, whose philosophy is to create 'a collegiate group of companies, embracing their differences', says his group's financial commitment will not change the make-up of the successful Star Events team, or its methodology. The same philosophy has been applied to the six previous Altrad acquisitions in the UK.
Star Events' director, Roger Barrett, comments: "For some time now we have been aware of the need for substantial investment to ensure our industry leading status. This deal puts us in a position to maintain everything that works so well within the company, coupled with the commercial strength of the Altrad Group."
All the key people who deliver Star Events' services remain with the business, strengthened by the corporate team from Altrad Beaver 84. Four of Star Events' management retain their shares in the company and have new job titles with immediate effect: Roger Barrett - Special Projects Director; Celine Watson-Lamb - Operations Director; Pete Holdich - Head of Structures; Jane Russen - Sales & Client Liaison Executive.
Roger Barrett adds: "I am very excited to be at the forefront of this new direction for the Altrad Group, with its impressive track record of helping acquired companies reach their full potential."
Steve Tysoe, Altrad Beaver 84 MD, who has taken on the role of MD at Star Events, said: "This acquisition forms part of our growth strategy in the events sector, which already uses a number of products that are made by Altrad Group businesses. Star Events' portfolio of ingenuity, expertise and equipment is unsurpassed and I look forward to helping the company realise its considerable contemporary ambition."
