STAMFORD, Conn. and TETERBORO, N.J., Jan. 22, 2007 (PRIME NEWSWIRE) -- Stamford Tent & Party Rental of Stamford, CT, and Party Rental Ltd. of Teterboro, NJ, today announced that they have formed a strategic alliance to jointly provide customized tenting, party supplies and specialized services for both top tier and large-scale corporate and retail events. As part of the agreement, Party Rental Ltd. also acquired the party rental supplies and equipment division of Stamford Tent. The terms of the transaction were not disclosed.
The strategic alliance formally brings together the largest special events companies in the tri-state region serving the upscale corporate and retail markets. Award-winning Stamford Tent, founded in 1953, is the area's leading provider of customized tents and tenting services, specializing in high-end events. Party Rental Ltd., established in 1972, offers one of the biggest selections of party supplies and catering equipment in the U.S., with seven locations and a dedicated production facility for custom linens serving a broad range of customers on the East Coast and nationwide.
"With its long-standing reputation for world-class service and products, Party Rental Ltd. is the ideal partner for us," said Stephen Frost, President, Stamford Tent & Party Rental. "This alliance ensures that our customers get the best of both worlds -- the leader in party supplies and equipment and the leader in tenting services. It also provides both companies with a robust pipeline of new business opportunities."
Both companies see the alliance as a landmark in an industry where growth is more typically achieved through a roll-up strategy of acquiring smaller companies or forming a loose network of service providers. "As a new strategic approach, we see this as the only way to build on our leadership position without sacrificing product quality and customer service," Frost added.
"In our business, client service excellence is just as important to our customers as the quality of the products we deliver," said Mike Halperin, President, Party Rental Ltd. "Stamford Tent shares this philosophy, and we look forward to working together to exceed our customers' expectations."
Prior to the agreement, the two companies worked side-by-side for many years on numerous upscale events. "Being the best in our respective market segments takes a level of experience, investment and expertise that no one company can deliver," added Halperin. "This alliance allows us to focus on what we do best, while providing our customers with a seamless portfolio of top-of-the-line products and services that is unmatched in quality, breadth and depth."
About Stamford Tent & Party Rental
Founded in 1953, Stamford Tent is the tri-state area's largest and most experienced provider of custom tent and tenting services, including lighting and decor, flooring and staging, and heating, air conditioning and power, and one of the largest in the U.S. Known for its innovation and service excellence, Stamford Tent has won numerous industry awards for outstanding creativity and execution. The company is headquartered in Stamford, CT. To learn more about Stamford Tent, please visit www.stamfordtent.com.
About Party Rental Ltd.
Setting the tables and trends in the event industry for 35 years, Party Rental Ltd. is a complete "under-the-tent" party rental company. Its commitment to service and unrivaled product offering keeps Party Rental Ltd. at the forefront of the market.
With four warehouse facilities and five showrooms canvassing the mid-Atlantic region, Party Rental Ltd. has established itself as the largest party rental company on the East Coast. To learn more about the company, its products and services, please visit www.partyrentalltd.com.