Production Merger: VER Enters Chapter 11, Merges With PRG

prg.com – Backstreet Boys PRG
Lighting up the Vegas residency

Production equipment and engineering support provider VER today announced a merger with PRG, which includes it filing for Chapter 11 bankruptcy reorganization. 

The announcement says VER will continue to operate normally during the reorganization, and that “Clients who have on-going productions as well as new clients who sign on with the company during the process, can be confident that their project will not be interrupted.”

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It also says the merged company “will meet evolving client needs and offer solutions, resources and expertise in ways neither company could achieve independently.”

“Entering into this agreement and undertaking the court-supervised restructuring process will greatly reduce VER’s outstanding debt and position the company for the merger with PRG,” stated VER CEO Digby Davies. “VER remains a strong business with more customers than ever before, and a customer satisfaction rating that is highest in the industry. The actions announced today will provide a stronger capital structure and sufficient cash to fund operations.”

VER supplies rental equipment for broad clients in TV, cinema, live events and corporate and broadcast markets, with audio, video, lighting, camera, rigging and other supplies.

PRG offers event technology solutions providing audio, video, lighting, staging, rigging and scenery and automation systems, with 44 offices across the world.

PRG was behind many technology and staging innovations at recent tours including U2 and was behind the largest indoor production in Germany when Helene Fischer hosted her her annual Christmas program in December.  PRG also recently was involved in the Backstreet Boys Las Vegas residency as well as the So You Think You Can Dance tour.