New York private equity firm takes over AlliedPRA
The management team of AlliedPRA will continue to lead the company and maintain a significant equity ownership in the company.
AlliedPRA CEO Tony Lorenz welcomed the news.
“Since its founding over 30 years ago, AlliedPRA has become the leading destination management company in the United States,” he said.
“Together with CI Capital, we believe there is an opportunity to extend AlliedPRA’s scale and scope, creating more value for our customers in this critical area.”
AlliedPRA works with its clients to ensure their offsite business events are successful by providing activity and transportation solutions, and other destination-specific services.
“AlliedPRA is an impressive business, which we believe is well-positioned to consolidate the fragmented destination management industry,” said CI Capital managing director Timothy Hall.
“We look forward to working with Tony and his team to execute their plan for AlliedPRA and help shape the future of this industry.”