VER Emerges from Bankruptcy Through Merger with PRG

August 23, 2018

Production equipment and engineering support provider, VER, has emerged from Chapter 11 bankruptcy as a reorganized company via a merger with and under the leadership of global entertainment technology and services company, Production Resource Group (PRG).

Led by PRG Chairman and CEO Jere Harris and controlled by The Jordan Company, GSO Capital Partners and PRG Management, the jointly owned companies create the largest entertainment equipment and services provider globally.

As a global company that provides equipment to the film and TV industry as well as audio gear and engineering for the music touring industry, VER will continue to exist and maintain its focus as a traditional B2B sub-rental platform, renting to AV staging companies and industry professionals, while full-service solutions will transition to become a part of PRG. 

Operating as two separate companies in North America, PRG and VER will remain focused on their respective areas of expertise and will be equipped to meet evolving client needs, offering solutions, resources and expertise even better than before, according to PRG officials. 

“For more than 20 years, PRG has been diligent in offering its clients the best production service and equipment in the entertainment industry,” Harris said. 

He continued, “Growth across disciplines, markets and geographies (have) always been a key part of our strategy. Now, our ability to support all types of entertainment productions globally will take on new meaning, raising an already high bar to an unprecedented level.”

PRG is already well established in concert touring for its lighting, video, media servers and staging innovations, and by combining that with VER’s tour audio gear and expertise, the company can now provide a complete suite of services for tours, festivals and events. 

Additionally, the merger allows PRG to enhance its long history in television production and expand its work in the film industry as VER brings its expertise in the video camera market, lighting, display and a robust suite of cameras. 

Meanwhile, VER customers are expected to benefit from PRG’s scenic and automation expertise, vast lighting inventory and its position as the exclusive rental house for PRG’s patented proprietary lighting products.

With approximately 70 locations across five continents, VER and PRG clients will have improved access to a vast array of equipment from all major manufacturers as well as specialized and proprietary equipment.

“We believe that this approach will bring about innovation, an exciting level of service and even more transformative collaboration with our partners,” Harris said. “It feels historic, not only for PRG and VER but for the entertainment industry.”

Stephan Paridaen will serve as president and COO of the combined company and Bob Krakauer will serve as CEO of VER.

 

Don’t miss any event news! Sign up for any (or all) of our e-newsletters HERE & engage with us on TwitterFacebookLinkedIn & Instagram!

Add new comment

Partner Voices
One of the most iconic names on the Las Vegas Strip just got an upgrade. Mandalay Bay has everything that your business needs from a refreshed convention space designed to inspire productivity and creativity, to an impressive selection of world-class restaurants and amenities. If you're looking for a venue that's both inviting and innovative, you have to be here. New Wave Experiences Mandalay Bay continues to invest in a new wave of enhancements both in the convention space and within the resort as a whole. New restaurant openings including Orla by Michael Mina, drawing inspiration from the award-winning chef’s childhood in Egypt and with flavors and décor inspired by the spices found in markets common to coastal Mediterranean towns, as well as Caramá by Wolfgang Puck, bringing the essence of Italy and spirit of Wolfgang into one concept, are recent additions. The Four Seasons Hotel Las Vegas also experienced a recent remodel of all 424 rooms. Swingers, a high-end, adults-only golf and entertainment concept will debut in Fall 2024. Enhanced Technology Creating a truly effective conference venue requires careful thought into what a business needs: the right technology, capacity, and inspiration to bring ideas to the next level. As part of the resort’s refresh, Mandalay Bay implemented state-of-the-art technology upgrades, installing cutting-edge Cat6A Ethernet cabling throughout the convention center. This advancement doubles the frequency of data transmission, enabling lightning-fast speeds up to 9400% faster. The convention center now boasts 11 dynamic digital walls, spanning up to 24' x 13', strategically positioned for brand placements, sponsorships and targeted event messaging. Additionally, attendees can benefit from 20 double-sided 55" mobile flexible display units, facilitating effortless navigation to meeting rooms and events. RFID locks were installed on all meeting room doors, and over 200 motion detection cameras have been placed throughout the space. Refreshing New Design & Fine Art The newly remodeled convention space provides a bright and vibrant atmosphere that complements Mandalay Bay's tropical-inspired brand. Featuring white-washed walls and ceilings adorned with bold floral patterns in cerulean and coral tones, the space is complemented by warm walnut accent walls. In addition to the redesign of all pre-function spaces, meeting rooms and ballrooms, Mandalay Bay's 1 million square feet of exhibit space has undergone a rejuvenation, including new paint, covered pillars and relocated strobe lights. Sustainable Spectacles Mandalay Bay is committed to Focused on What Matters and creating more responsible meetings. Refillable water stations all available around the resort, cutting unnecessary plastic usage from single-use bottles. The Mandalay Bay campus’ recent upgrades represent a bold step forward in redefining the Las Vegas experience. With a focus on innovation, sustainability, and unparalleled service, Mandalay Bay sets a new standard for excellence in business hospitality. Whether you're seeking cutting-edge conference facilities, world-class dining options, or simply a luxurious retreat, an unparalleled meeting experience awaits.