News
Signature Signs Off on .8M Purchase
Signature Special Event Services LLC has been acquired for $21.8 million by TVI Corp., a publicly traded company that has been engaged primarily in providing temporary structures and other services to the defense market and public agencies.
Frederick, Md.-based Signature is one of the country’s top event equipment rental companies, with branch offices in California, Florida, Kentucky and North Carolina generating about $37 million in revenue in the year ended Sept. 30, 2006.
The company provides temporary structures, temporary housing, flooring, lighting, HVAC, power, mobile kitchens, laundry and latrine facilities.
Thomas Brown, Signature’s president, will remain in that position, and 150 full-time employees will join TVI, according to a news release.
Signature’s expertise is in the corporate, sporting and social sectors, but it has built a presence in the government and military sector, where TVI has thrived. TVI officials said combining the two companies enhances their collective strength in both sectors.
“Our acquisition of SSES builds on our corporate strategy to broaden TVI’s product offerings, expand our distribution channels and increase our recurring revenue stream,” TVI Chief Executive Richard Priddy said in a statement. “Signature’s portfolio is an ideal complement to TVI’s existing product suite and target markets.”
For more information, visit www.tvicorp.com.
Face-to-Face in the Big Apple
Skincare products giant Nivea used Adwalkers — “high-tech human billboards” — to attract 6,600 potential customers to its “Nivea Touches New York” exhibit in Manhattan.
The marketing innovation is the work of Adwalker, a New York-based arm of Dublin, Ireland-based Adwalker Plc.
Other corporate customers are finding uses for Adwalkers as well, officials said.
DaimlerChrysler used Adwalkers to promote its Dodge Nitro automobile at the Men’s Health Urbanathlon at Manhattan’s Pier 54 on Oct. 1, and Bank of America deployed 50 Adwalkers around Manhattan Oct. 11 to introduce “no-fee” stock trades.
The Adwalkers walk about in public places where the client’s target audience is most likely to be, wearing a high-resolution video screen bearing the client’s message across their chests.
“The Adwalker is both high-tech and consumer-friendly,” said Matt Fine, regional CEO of Adwalker’s U.S. operations. “You see a nice person with a bright screen and crowd gathered around. It naturally promotes interaction.”
For more information, visit www.adwalker.com.
Rebound Continues for Convention Centers
Convention centers continue to see increased demand from conventions and trade shows, though a three-year growth trend slowed in the most recent year, according to the most recent survey of North American convention centers by research firm PricewaterhouseCoopers.
Convention center events experienced an increase of more than 2 percent from 2005 to 2006, following a significantly higher increase of 16 percent in the prior year.
Smaller convention centers (those with less than 100,000 square feet of exhibit space) saw a 17 percent increase, while demand at medium centers (100,000 to 500,000 square feet) added 6 percent. The largest halls (greater than 500,000 square feet) were stable, following a significant 19 percent increase in the prior year.
“The increase in convention center performance over the past three years reflects a positive outlook in the industry for events and attendance,” said Robert Canton, a director in PricewaterhouseCoopers’ Hospitality and Leisure practice. “Our research continues to show that, despite rising energy prices and continued concerns about travel, the industry has experienced a strong rebound in both demand for space and event attendance since 9/11, and this turnaround is expected to continue.”
For more information, visit www.pwc.com.