MML Capital Partners and Sports Investment Partners supported the transaction, ahead of Arena Group’s Olympic contracts.
Karl’s Event Services was founded in 1966 and supplies temporary demountable structures, staging, lighting and furniture to clients including the NFL Super Bowl, and Mercedes Benz New York Fashion Week.
Arena group has existing bases in the UK, Europe, UAE and Far East.
Greg Lawless, chief executive of Arena Group, said: "On an international level we can now offer consistency of products and services for global sports companies and corporate events along with their commercial partners, whilst it also becomes viable to introduce creative and technical innovations to local events in any region we have a base.
"Karl’s and Arena Group share a common ambition to deliver world class event environments working in partnership with our clients, and we immediately identified that same ethos in John Haener, chief executive and president of Karl’s. I am confident this will be a very positive transaction for all of our clients and employees worldwide."
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