Olympus Lights Up The Stage With PSAV Acquisition
STAMFORD, Conn., Jan. 26, 2014 /PRNewswire/ -- Olympus Partners has teamed up with Goldman Sachs to acquire PSAV, a leading event technology and audiovisual company. Since 1937, PSAV has set the standard for event technology services within the hotel, resort and conference center industry. PSAV offers expertise for everything from intimate gatherings to large conventions. Terms of the transaction were not disclosed.
"We are thrilled to complete our acquisition by Olympus Partners and Goldman Sachs," said Mike McIlwain, President & CEO of PSAV. "We are eager to work with them to continue providing exceptional service and value to more customers in more geographies."
"We are excited to partner with Goldman Sachs to invest in PSAV, a market leader with an unmatched range of event technology and services and a blue chip customer base of hotel clients," said Manu Bettegowda, Partner at Olympus Partners. "We look forward to working with PSAV's talented management team to continue to drive the company's growth."
About Olympus Partners
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including restaurants, consumer products, healthcare services, financial services and business services.
Olympus manages in excess of $5 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs. The investment in PSAV is Olympus' first investment out of its $2.3 billion sixth fund. www.olympuspartners.com
PSAV provides legendary service and innovative technology to create memorable experiences for planners, producers and customers across the corporate, association and special event markets. Combining local expertise and the broadest array of event technology, PSAV offers more resources in more places than any other audiovisual partner. PSAV employs more than 4,750 full-time, highly trained professionals in 1,300 destination resorts and hotels throughout the United States, Canada, Mexico, Europe and the Middle East. www.psav.com
SOURCE Olympus Partners