The acquisition for an undisclosed sum took place on 26 February and sees Elegant Days merge with Sellers Hospitality to become part of Arena Event Services, a division of the Evenser Group.
Both companies will continue to trade under their present names until the launch of a new division with a staff of 20. No redundancies will follow the sale. The two hospitality companies have a combined turn-over in excess of £6m.
Elegant Days managing director Eddie Hoare will become chairman of the new company while Sellers managing director Charles Webb will retain his title.
After the deal, Hoare and Webb released a joint statement that read: "Together we can offer an extensive portfolio of events and introduce a greater breadth of service to our clients."
Arena chief executive David Walley said: "Elegant Days has an enviable reputation for building spectacular events and merging the two companies represents a major step in our strategic development."
Elegant Days is most recognised for its themed corporate Christmas parties.
Sellers is the official hospitality provider at Silverstone for the Foster's British Grand Prix. It also provides hospitality for the Martell Grand National at Aintree and international cricket at Headingly and Edgbaston.
One industry insider said: "Hoare is an astute character who realises there are too many players fighting over a difficult market. This deal will allow him to add more substance to his offer."