Event Rentals names $125.5 million winning bid; sale hearing April 29

By Caroline Salls

Pittsburgh, April 23 - Event Rentals, Inc. said Apollo Capital Management, LP was the high bidder at the auction for substantially all of its assets with a $125.5 million bid, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

In addition to the purchase price, Apollo will assume specified liabilities.

Apollo's bid was made on behalf of investment funds managed by it or its affiliates.

Stalking horse bidder CPR Acquisition Holdings, LLC was named the backup bidder. CPR is a newly established entity owned by the company's current lenders.

The sale hearing is scheduled for April 29.

Event Rentals, an Inglewood, Calif.-based provider of event rental products and related services, filed bankruptcy on Feb. 13. The Chapter 11 case number is 14-10282.

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