(Editor’s Note: This story has been updated from an earlier version to clarify that Hunter Dale is not affiliated with Tin Roof Brewing Co.)
One of the two owners of Tin Roof Brewing Co. is branching out with the acquisition of Doug Olinde Event Rentals, a 20-year-old company that rents tables, chairs, tents and linens for parties and special events.
Tin Roof co-owner William McGehee and a longtime friend, Hunter Dale acquired the company earlier this month for an undisclosed price. Olinde, 57, says after nearly two decades in the labor-intensive business he is ready to retire. McGehee says the company is a good fit with his rapidly growing craft brewery, which recently expanded into the Houston market.
“I’ve met a ton of the people he rents to through events that we, at the brewery, are a part of, and it’s a good fit. There is a synergy there,” he says. “Usually when people are renting tents and table and chairs there is some kind of fun going on and more likely than not there will be some sort of beer there.”
The event rentals company was also attractive because it does a brisk business with high margins. Revenues this year have been around $2.3 million.
“Coming from a small boutique manufacturer, the margins they get versus the margins we get are incredible,” McGehee says.
For the next year, longtime customers of Doug Olinde Event Rentals will likely not notice much change. The company will continue to operate out of the 10,000-square-foot warehouse and office space on Seabord Drive, off Gardere Lane, where it employs 10 full-time workers plus seasonal workers as needed. The name will stay the same through the busy spring event season, and Doug Olinde will also remain with the company to help with the transition for the next year.
“We eventually want to grow the business,” McGehee says. But for now we’re still just getting our feet wet. … Hopefully by next fall we’ll be ready to rebrand.”
McGehee will be spending most of his time at the new company for now. Recently hired CEO Jacob Talley, who joined Tin Roof in September from Mockler Beverage, will run the brewery. Tin Roof’s co-founder and c-owner, Charles Caldwell, is not associated with the Olinde deal.
—Stephanie Riegel
