Peterson Party Center, Woburn, Mass., has entered into a recapitalization transaction with private equity firm Dubin Clark & Co. Inc. The recapitalization enables Peterson Party Center’s president and owner Robert Traina to divest himself of a portion of the business while providing the company with a partner to continue growth.
The 60-year-old tent and event rental provider primarily serves Massachusetts, but frequently works throughout New England and beyond.
Traina was hired as general manger more than 40 years ago, serving in that role for nearly 20 years before purchasing the company.
To accommodate the company’s growth, three years ago Traina purchased a significantly larger building on 24 acres in Woburn, a northern suburb of Boston. Extensive renovations to the 140,000-square-foot facility included a state-of-the-art laundry utilizing RFID technology, an efficient and environmentally friendly dish room, and a 5,000-square-foot tent wash area with a conveyor drying system.
The company’s linen rental division made a strategic investment in Table Toppers of Newton in 2013. Table Toppers recently opened a Boston showroom.
Traina remains as CEO, with the goal of continuing to build the infrastructure to provide continued quality service to customers.
Source: Miller Weldmaster