PRG and VER Move Forward with New Corporate Structure
New structure leverages expertise, people and technology for global entertainment and event production
NEW YORK – Jan. 28, 2019 -Following its acquisition of VER in August, Production Resource Group, L.L.C. (PRG) is moving forward with a new organizational structure – one enterprise doing business under two brand names. PRG will continue to be service-driven, providing production solutions in entertainment while VER is gear-driven, returning to its roots as the leading rental supplier of production equipment.
““This is the blueprint that provides the best alignment of our capabilities with our customers’ needs,” said Jere Harris, PRG’s chairman and CEO. “It also offers us the potential to strengthen our position in every one of our business units and better respond to the industry as it evolves.””
In entertainment, VER Camera, VER Tour Sound, VER Tour Lighting, VER Tour Video, and VER Broadcast, as well as PRG’s Paskal Lighting division will be incorporated into a single comprehensive resource serving the music, film, scripted TV, unscripted TV, sports, special events and live broadcast markets. As a result, customers can engage PRG as a 360° resource or for a specialized technological solution in a single discipline. In corporate events, PRG’s offering expands with the largest selection of production equipment and award-winning technology to support any kind of event anywhere in the world.
VER is refocused on its legacy business of providing the largest and most comprehensive inventory of rental equipment for production professionals in the hotel, staging and production industries.
“VER began as a company focused solely on the rental of equipment to production professionals who, in turn, used it to create their own solutions for their clients. Over time, it evolved into other directions. We believe the path to success is to recommit to this legacy mission,” said Harris.
VER enters this chapter with the financial backing of new equity partners GSO Capital Partners, a division of the leading investment firm The Blackstone Group, allowing it to operate and thrive in a capital-intensive business.
VER is also the proprietary rental provider of PRG’s cutting edge technology. VER and PRG have approximately 70 locations across five continents offering clients access to an extraordinary array of equipment from all major manufacturers as well as specialized and proprietary equipment.
“PRG and VER are distinct brands serving very different needs within the production community. What they have in common is the best talent and technology available and a commitment to the success of every project they undertake,” said Harris.