Mahaffey Acquires $24.2 Million in Tent, Structure Assets from Classic Party Rentals
August 25, 2017
Mahaffey Fabric Structures acquired more than $24.2 million in assets from Los Angeles-based Classic Party Rentals, including tents, structure frame, fabric pieces and specialty structures.
With this purchase, the temporary structures solutions provider now boasts an expanded network of both personnel and products to cover large-scale activations, corporate events, festivals, sporting events, film productions and other special events nationwide.
“With the addition of more than 3.1 million square feet of tent and structure inventory, this acquisition will be an industry game-changer,” said George Smith, executive vice president of Mahaffey Fabric Structures.
He continued, “It is a unique opportunity, not only to purchase high-end assets that rarely become available but also to expand our coverage of the special events industry – both for rentals and sub-leasing. This acquisition is a great example of how Mahaffey has continued to grow and innovate throughout our more than 90 years in business.”
Following this asset purchase, Mahaffey has increased its inventory of double decker structures as well as added Roder Jet Tents, Shelter Tents, Arcum structures, Aztec Tents (Maxibeam, Midibeam, Minibeam, Tectrac SK and Tectrac LK, and AcadaSpan Tents.
The company’s tent and structure catalog ranges in size from 10 feet to 150 feet wide, with virtually unlimited lengths, and its extensive list of acquired accessories include doors, lighting, HVAC and racks.
While the Mahaffey team is looking forward to increasing its special event coverage, it also is open to subleasing or selling surplus inventory to help equip businesses with an extended product line for the short or long-term.
Founded in 1924, the Memphis, Tenn.-based rental company installs more than 400 temporary structures annually and serves customers throughout North America, Mexico, the Caribbean and beyond.
Mahaffey has worked with large trade shows including CONEXPO-CON/AGG, the International Construction and Utility Equipment Exposition (ICUEE) and the Permian Basin International Oil Show, and maintains additional offices in Houston and Quakertown, Penn.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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