The Jordan Company Closes Investment in Production Resource Group

New York, NY: August 21, 2007 - The Jordan Company II, L.P. ("Jordan") today announced the closing of its investment in Production Resource Group, Inc. ("PRG" or the "Company") replacing Boston Ventures as PRG management's capital partner. The Resolute Fund II, a fund managed by Jordan, along with PRG management invested approximately $300 million in this transaction. The transaction was financed by Goldman Sachs Credit Partners, L.P. and GMAC Commercial Finance LLC.

PRG, headquartered in New Windsor, New York, is the world's largest independent provider of equipment and services to the premier live event industry, operating as a single-source provider of technology solutions to a marketplace which includes live entertainment (live theater, concert touring, film and television, and special events), corporate events (trade and industrial shows) and themed environment (gaming, theme parks and retail) markets. The Company is the only global player that provides services across multiple product categories (lighting, audio, scenic and video) to major entertainment end-markets. PRG owns and maintains an inventory of lighting, audio, video, and scenic rental equipment, and serves its customers from over 20 offices located in North America, Europe and Asia as well as through a worldwide network of strategic partners.

Over the past ten years, PRG has broadened its product line, expanded into new geographic regions, and increased its market penetration through organic growth and add-on acquisitions. PRG's active acquisition program (22 acquisitions since 1996) plus organic growth in its core markets has resulted in PRG being a market leader. The transaction, which assumes less than 4.5x leverage, gives the Company the financial flexibility to continue to grow its business around the world.

Back