Sun | Aug 20, 2017

Main Event hires Mayberry to raise capital

Published:Friday | June 10, 2016 | 6:00 AMSteven Jackson
Team members of Main Event Entertainment Group, CEO Solomon Sharpe (left), Chief Operating Officer Richard Bair and Director of HR Development & Administration, Donna Waithe, signs the agreement hiring Mayberry Investments Limited as financial advisers. Mayberry CEO Gary Peart is seated at right.

Main Event Entertainment Group has signed Mayberry Investments as financial adviser to raise capital for the company, either privately or publicly.

But Mayberry CEO Gary Peart is not saying how much the entertainment company, started by Solomon Sharpe and Richard Bair, intends to raise, nor the timeline in which it plans to tap the market.

The Main Event name itself is largely unfamiliar, but the events it provides services to are known to many households. The company supplies equipment and rigs for events such as Digicel Rising Stars and Jamaica Jazz and Blues Festival.

Main Event was incorporated in 2004. It's described as Jamaica's largest digital signage and structured, premier event management company.

Typically, in recent times, companies that hire Mayberry as adviser are considering floating their shares on the stock market - and more precisely, most often its via the junior exchange - but Main Event has not signalled its preference for debt or equity.

"We strongly believe that in working together, Main Event Entertainment will continue to diversify and to expand its horizons through growth and creativity in the entertainment industry. This is yet another company that we have embarked on in greatly contributing to the entertainment business in Jamaica," said Peart.

Since the debut of the junior stock market in 2009, two entertainment companies have joined the exchange - start-up music publisher C2W Music Limited, and KLE Group Limited, which recently exited the nightclub business to focus on its restaurant operations.

Although it has limited name recognition, Main Event Entertainment has a track record serving both corporate and private clients in Jamaica.

The company's turnkey system gives it flexibility to address varying client needs and event sizes. Its event management services incorporate conceptual design, planning and organisation, said a release issued by Main Event and Mayberry.

Sharpe serves as chief executive officer of the company and Bair as chief operating officer. Both are directors.

"Over the past 12 years, Main Event Entertainment has achieved its strategic vision to set the standard for quality in the event industry in Jamaica," said Sharpe.

"Going forward we will continue to create and innovate ... we chose Mayberry Investments as our financial adviser to provide us with the tools and advice to maximise our potential and achieve the most out of our business," he said.

Said Bair: "Main Event Entertainment prides itself on being on the cusp of technology and innovation, growing from strength to strength and achieving milestones along the way. When we look at where we started and where we are now, we know that we have done something right!"

Main Event operates from Lady Musgrave Road in Kingston with a staff complement of 96 that includes contract workers.

steven.jackson@gleanerjm.com