The acquisition deal marks Altrad’s move into the entertainment sector via its scaffolding and fencing supplier business, Altrad Beaver 84, which operates from 12 UK locations.
As a result of the move, Star Events, which recently at the Queen Elizabeth Olympic Park, operated by GLL, has become a subsidiary of Altrad Beaver 84. It will stay based at its Bedford premises.
Steve Tysoe, currently managing director Altrad Beaver, will take on the role of managing director at Star Events.
Star Events revealed existing staff who help to deliver the company’s services will remain with the business, and will be strengthened by the corporate team from Altrad Beaver 84.
Four of Star Events’ management will retain their shares in the company and have new job titles with immediate effect. This includes special projects director Roger Barrett, operations director Celine Watson-Lamb, head of structures Pete Holdich, and sales and client liaison executive Jane Russen.
Barrett of Star Events, said: "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.
"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."
Tysoe added: "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."
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