PRA Expands Hawaiian Presence with Island Style Innovations Acquisition

Deal News | Nov 26, 2024 | EagleTree Capital

PRA, a prominent player in the business events industry and backed by EagleTree Capital, has acquired Hawaii-based Island Style Innovations. This acquisition amplifies PRA's presence in the Hawaiian market, known for high-end meeting, convention, and incentive programs. Island Style Innovations, founded by Tatiana von Oelhoffen and Colleen Reyes, is renowned for authentic local experiences in event management, catering to sectors like insurance, finance, pharmaceuticals, and technology. The merger signifies a strategic growth move, with PRA integrating Island Style Innovations under its Hawaii branch led by Debbie Weil-Manuma. The acquisition follows PRA's purchase of Weil & Associates Hawaii, signalling a robust expansion strategy in this key location. Laurie Knapp, Chief Growth Officer of PRA, highlights the alignment in values and the potential for delivering enhanced event solutions. Co-founder Colleen Reyes expresses enthusiasm for the collaboration, while Tatiana von Oelhoffen moves on to new ventures. PRA, headquartered in Chicago, continues to deliver integrated service capabilities across North America, supported by EagleTree Capital's substantial investment expertise.

Sectors

  • Business Services
  • Private Equity

Geography

  • United States – The acquisition took place in Hawaii, and PRA is headquartered in Chicago, reflecting significant business operations within the U.S.
  • Hawaii – Island Style Innovations, the acquired company, is based in Hawaii, which is a key market mentioned in the article.

Industry

  • Business Services – The article focuses on the event management industry, which provides a range of services for corporate meetings, incentives, and events.
  • Private Equity – EagleTree Capital, a private equity firm, is mentioned as the majority owner of PRA, influencing its strategic growth decisions.

Financials

  • $5.3 billion – The assets under management by EagleTree Capital, indicating financial capacity for strategic investments.

Participants

NameRoleTypeDescription
PRAAcquiring CompanyCompanyA leading business event management firm with a presence across North America.
Island Style InnovationsTarget CompanyCompanyA Hawaii-based destination management and event design company known for local expertise.
EagleTree CapitalPrivate Equity FirmCompanyThe majority owner of PRA, influencing strategic acquisitions like Island Style Innovations.
Debbie Weil-ManumaLeader of PRA HawaiiPersonThe executive overseeing the integration of Island Style Innovations into PRA Hawaii.
Tatiana von OelhoffenCo-founder of Island Style InnovationsPersonOne of the founders of Island Style Innovations, exiting post-acquisition.
Colleen ReyesCo-founder of Island Style InnovationsPersonCo-founder of Island Style Innovations, continuing with PRA Hawaii post-acquisition.
Laurie KnappChief Growth Officer of PRAPersonResponsible for PRA's growth strategy and the integration of new acquisitions.