15 Aug Party Time Rentals represented by Stansberry in acquisition by Premier Events
The Stansberry Firm proudly represented Party Time Rentals in its recent acquisition by Premier Events of Austin, Texas. Party Time is a single location special events rental company servicing the Bryan-College Station, Texas area, home to Texas A&M University. Founded in 1976 by Patricia Scarmardo, Party Time is the only special events rental company to service the college town, providing the rental of tents, tables, chairs, linens, place settings, food and beverage service items, as well as other special events related equipment.
Mrs. Scarmardo, who sadly passed away in the spring of 2016, was passionate about the service provided by Party Time and was very active in and loved by the community, known for her kindness, generosity, business savvy and beautiful personality. Though she is greatly missed, her husband, Mr. Bill Scarmardo, is confident that Premier Events will successfully carry on and grow Mrs. Scarmardo’s legacy.
The Stansberry Firm worked closely with Mrs. Scarmardo over the years and worked closely with Mr. Scarmardo throughout the transaction process, both before and after Mrs. Scarmardo’s passing. Mr. Scarmardo said of his experience with The Stansberry Firm:
I want to thank Gary and Carolyn Stansberry for their patience and professionalism in selling the Party Time Rentals business. Their knowledge and guidance during the process helped reduce our stress during this difficult time for our family. Gary had worked with my late wife Patricia over the years; he knew the business and knew Patricia’s passion for Party Time. In the sale process, The Stansberry Firm brought us several offers and ultimately, we found a buyer that achieved not only our financial goals for the sale, but also found a buyer to continue Patricia’s vision and provide the best fit four our employees and customers.
“Patricia was a smart and caring businesswoman who loved the Party Time family. She was proudest of the difference PTR made in service to the community and to PTR’s customers. It is that same commitment to team, to community and to customers that make Richard and Delores Crum, their family and Premiere Events the perfect successors to Patricia,” said Mr. Scarmardo.
Premier Events is based in Austin, founded in 2000 by Mrs. Delores Crum and Mr. Richard Crum. The Premier Events team has worked alongside Party Time staff during the transaction to facilitate a smooth transition. Premier President, Mrs. Crum went on to say, “My family and I are honored to acquire Party Time Rentals — a successful, established and time-tested company,” said Delores Crum, president, Premiere Events. “The similarity in corporate cultures and operations will certainly simplify the transition to new ownership. We’ll be building upon the firm Party Time foundation and upholding the deeply held commitment to customer service excellence.”
Read the full press release here.
Gary Stansberry and Carolyn Stansberry of The Stansberry Firm specialize in Business Sale Representation, having experience from both the buyer’s and seller’s side. The Stansberry Firm has been very active in the Special Event Rental Industry for two decades, completing acquisitions with both national and local strategic buyers as well as private equity.
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