Farewell AR Systems, Hello Showcare Event Management
Diane Taylor -- Tradeshow Week, 4/24/2008 3:09:00 PM
In recent months, Kristian Lavereau, vice president of business development for Showcare Event Management, has been one busy man. He has been selling services, dispelling rumors and reporting a first-quarter profit for his company.
One of the familiar names in registration systems in Las Vegas has been AR Systems, and one of the many rumors about the company last year was its impending bankruptcy.
“Well, not exactly,” Lavereau explained. “Yes, the company went into receivership, but under a corporate restructuring approved by the Ontario Superior Court of Justice last December, AR Systems per se disappeared, its assets transferring to a new corporation, Showcare Event Management.”
With the restructuring, he said, Showcare replaced the executive team, made major changes in company efficiency and reassured clients their registration contracts were safe.
“After two years of poor financial results,” Lavereau added, “we reported a profitable first quarter of 2008.”
Current owners of Showcare Event Management include Martin d’Amours (president), Michel Berger (one of the original owners of Laser Registration, recently merged with Showcare) and Venture Link, a Toronto-based venture capital group and one of the original investors in Showcare before the merger and restructuring.
Lavereau admitted the transition was difficult because of the rumors: “In our booth at IAEE (Intl. Assn. of Exhibitions and Events’) Expo! Expo! last December, I spent almost the whole time reassuring clients that we were still in business for the long haul. Fortunately, during our transition, we retained 100 percent of our client base and, in fact, added 25 new clients.”
Showcare maintains offices in Toronto; Washington, D.C.; Montreal; and Las Vegas, where it also has a warehouse. Among the company’s upcoming Las Vegas shows is 2008 Lightfair Intl., May 26-May 30.
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