Under the proposal, the combined entity would be wholly owned and operated by Wenger. The shared vision of Wenger - including its subsidiary J.R. Clancy - and SECOA is to "provide a superior value proposition featuring the highest quality products and services for all stakeholders in the performing arts industry".
A statement continues, "After conducting exploratory conversations, the leadership teams of both organizations became excited about the synergies that exist, both strategic and tactical, with the combination of the businesses. By aligning the SECOA, Wenger and J.R. Clancy brands, Wenger expects to reinforce its position as a unique global provider of the broadest array of solutions in the industry. This transaction would mark another milestone in Wenger's continuing commitment to provide the most comprehensive offering of innovative products, project management, superior installation, and aftermarket services in the industry.
"Both companies plan to work diligently to effectively communicate and execute transition plans with their employees as well as external partners and other key influencers in the industry. The companies expect to finalize the transaction over the next six weeks."
(Jim Evans)
