PRA is a leading destination and events management company in the United States – a big player in a highly fragmented industry.
Before exiting the business in 2017, Soho Square developed an acquisition thesis and led the first few transactions, whilst training the team to evaluate and execute future opportunities. A total of 8 acquisitions were completed prior to exit.  Soho Square introduced best practice reporting and implemented a new finance reporting system.  Soho Square helped develop a strong senior management team in advance of an exit to ensure continuity.  At exit a buyout team was in place allowing a full exit for the original management team alongside Soho Square.
During the investment period, Soho Square helped grow revenues fourfold from $25m to $100m and doubled the number of destination offices to 28 at exit. 

At a glance:

  • Location: San Diego, USA
  • Date of investment: 2009
  • Sector: Business services
  • Growth capital

"Soho Square entered into this business at arguably the toughest economic period in our lifetime. They took on significant risk and worked hard over several years to put PRA in position to build value and extend PRA’s leadership in the DMC sector of the Business Events industry."

Tony Lorenz of PRA