Sparks Progresses Its Multiphase Growth Strategy with Acquisition of 3D Exhibits
February 10, 2021
Global live and digital brand experience agency, Sparks, has acquired leading trade show exhibit company 3D Exhibits. The acquisition of the Chicago-based company, which has additional locations in Cleveland, Indianapolis, Las Vegas and Milwaukee, allows Sparks to complete its Midwest expansion strategy while positioning itself for continued growth in new and current client channels.
“This acquisition significantly increases our trade show business and is consistent with our approach of viewing this challenging time as an opportunity for dynamic moves that might otherwise not have been possible,” explained Scott Tarte, CEO of Sparks, which produces live and virtual events, trade show exhibits, brand activations, retail environments and other immersive experiences.
He continued, “The addition of 3D Exhibits advances our strategic goal of filling the middle of the country and emerging a stronger, more complete company than we were pre-pandemic. In 3D, we have acquired a terrific business, with exceptional employees and a proven leader in [CEO and owner Gene Faut]. The entire Sparks organization welcomes them to the family and looks forward to collaborating to build upon their impressive success.
The terms and price tag of the deal, which closed Feb. 2, were not disclosed. However, 3D is without question a valuable commodity, reaching more than $120 million in 2019 pre-COVID sales, according to Sparks officials.
While the two companies work through long-term growth plans, 3D will retain its name in the marketplace, operating as “3D Exhibits, a Sparks company.”
Company officials emphasized that 3D clients will reap the benefits of expanded creative and strategic resources, a large proprietary events division and increased geographic reach both domestically and internationally.
Faut joins the Sparks executive team as president of the 3D Exhibits division and will hold a minority ownership position in the company.
“Our combined resources, global reach and talented personnel will provide immediate value to all of our customers,” Faut said. “While we are two different companies, we share similar philosophies, commitments and standards. Together these values will make the combined entity stronger as we ride out this storm and build towards the future.”
The addition of 3D Exhibits, along with the previous acquisition of Group Delphi in late 2020, marks a continuation of Sparks’ multiphase growth plan. The company now owns major fabrication facilities in Atlanta; Chicago; Fort Wayne, Indiana; Las Vegas and Philadelphia, eight sales and service offices across the U.S., and international offices in Paris and Shanghai.
Don’t miss any event-related news: Sign up for our weekly e-newsletter HERE and engage with us on Twitter, Facebook, LinkedIn and Instagram!
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.
Add new comment