New audio-visual acquisition
21-Jan-10by Annie Byrne
Buckinghamshire-based audio-visual hire company ARB has been acquired by a consortium for an undisclosed sum it has been announced. The consortium was led by former CEO of Arena Group, David Walley, and experienced events industry guru, David Harding, who will become the new chairman and CEO respectively. This deal represents the first step by the pair to build an event services group moving forward. “David and I talked about doing something together since we worked on a project together at Arena. We feel we can bring much needed financial stability to ARB and are excited to be taking the business forward,” says Walley. Established in 1944, ARB employs over 30 staff and turnover is in excess of £4m. All staff will be retained under the new regime and the company will continue to supply the exhibition and events industries.