Key Takeaways
- • Third Space Partners, a private equity firm focused on the experience economy, has acquired Quest Events through investment vehicles it manages, according to a Business Wire release dated October 29, 2026.
- • Quest Events is described as the national leader in drape and modular scenic solutions for live events, supporting more than 17,000 events annually from 17 locations with over 5,000 customer accounts.
- • Financial terms were not disclosed; McGuireWoods LLP advised Third Space Partners and funds affiliated with BDT & MSD Partners provided debt financing.
- • Founder and CEO Lee Dunlap will continue to lead Quest Events alongside its existing management team.
- • Third Space plans to expand Quest into new live entertainment, sports and music segments, invest in sales and service, grow its footprint and pursue complementary acquisitions.
Summary
Third Space Partners, a private equity firm that invests in businesses serving live events, sports, entertainment and recreation, announced that investment vehicles it manages have acquired Quest Events, according to a Business Wire release. Quest is headquartered in Frisco, Texas, and is described by the company as North America's leader in pipe and drape, modular scenic, staging and event furnishings rental for the AV, hospitality, corporate and special events industries. The company has operated for nearly 30 years, designing, building and installing drape and modular scenic elements, and offers proprietary modular systems such as AV Drop along with in-house design, custom fabrication, installation and on-site crews.
Quest supports more than 17,000 events annually from 17 U.S. locations, and its more than 5,000 customer accounts include AV production companies, event producers, experiential agencies and meeting planners. The release notes that the market is served primarily by local and regional players, and that Quest's national footprint allows it to deliver complex, multi-market projects. In select markets, Quest also operates through specialty divisions Drape Kings and A & D Scenery.
Matt Settle, Founder and Managing Partner of Third Space Partners, said the firm invests in essential businesses behind live experiences and sees significant opportunity to expand Quest's capabilities and customer base in what he described as a highly fragmented market. Lee Dunlap, Founder and CEO of Quest Events, said the company was excited to work with a partner that shares its vision while staying true to what made Quest successful. Third Space intends to leverage its relationships across music, sports and live entertainment, invest in sales and service capabilities, expand the scenic offering, add locations and pursue complementary acquisitions.
McGuireWoods LLP served as legal counsel to Third Space Partners, and funds affiliated with BDT & MSD Partners provided debt financing for the transaction. Financial terms, including purchase price, were not disclosed.
Quest supports more than 17,000 events annually from 17 U.S. locations, and its more than 5,000 customer accounts include AV production companies, event producers, experiential agencies and meeting planners. The release notes that the market is served primarily by local and regional players, and that Quest's national footprint allows it to deliver complex, multi-market projects. In select markets, Quest also operates through specialty divisions Drape Kings and A & D Scenery.
Matt Settle, Founder and Managing Partner of Third Space Partners, said the firm invests in essential businesses behind live experiences and sees significant opportunity to expand Quest's capabilities and customer base in what he described as a highly fragmented market. Lee Dunlap, Founder and CEO of Quest Events, said the company was excited to work with a partner that shares its vision while staying true to what made Quest successful. Third Space intends to leverage its relationships across music, sports and live entertainment, invest in sales and service capabilities, expand the scenic offering, add locations and pursue complementary acquisitions.
McGuireWoods LLP served as legal counsel to Third Space Partners, and funds affiliated with BDT & MSD Partners provided debt financing for the transaction. Financial terms, including purchase price, were not disclosed.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.