Goldman Sachs to Acquire A/V Firm PSAV

Affiliates of Goldman Sachs have entered into an agreement to acquire event A/V company PSAV from its current private equity owner, Kelso & Company, the firm announced yesterday.

“This is truly an exciting time for our organization,” PSAV President and CEO Mike McIlwain said in a statement. “This investment by Goldman Sachs is a vote of confidence in our team members and our commitment to the meetings and event industry. Through this partnership, our customers can expect accelerated access to inspirational event technology, expertise and support.”

Added Goldman Sachs Managing Director Brad Gross, “We look forward to working with PSAV to help them provide more services to more customers in more places. PSAV already offers customers a unique resource in terms of their geographic coverage and range of services, and we are excited to partner with them as we plan for future expansion.”

Founded in 1937, PSAV has more than 4,500 full-time employees in nearly 1,200 destination resorts around the world. Terms of its acquisition by Goldman Sachs weren’t disclosed.

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