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Event Experiences Producer PSAV Agrees to Blackstone Buyout
Tuesday 19 June 2018

19 June 2018 - US-based event experiences provider PSAV has entered into a definitive agreement to be acquired by private equity and real estate funds affiliated with investment firm Blackstone (NYSE: BX) from affiliates of Goldman Sachs (NYSE: GS) and Olympus Partners, the company said.

Terms of the transaction were not disclosed.

PSAV has expertise in creative, production, advanced technology and staging services. The company works with meeting and event planners.

Its team consists of more than 9,000 professionals across 1,500 on-site venue locations and 49 branch offices within the United States, Canada, Mexico, Europe, the Caribbean, and the Middle East.

The company is headquartered in Schiller Park, Ill. 

Founded in 1869, The Goldman Sachs Group, Inc. is a global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division is the primary center for the firm's long-term principal investing activity.

With nine offices across seven countries, Goldman Sachs Merchant Banking Division is one of the leading private capital investors in the world with equity and credit investments across corporate, real estate, and infrastructure strategies.

Since 1986, the group has invested approximately USD 180bn of levered capital across a number of geographies, industries and transaction types. 

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.

Goldman Sachs and Morgan Stanley are serving as financial advisors to PSAV, and Weil, Gotshal and Manges LLP is serving as legal counsel to PSAV. JP Morgan served as an advisor to management.
Simpson Thacher and Bartlett LLP is serving as legal counsel to Blackstone.

AGM Partners, Barclays, Credit Suisse, and Moelis and Company are serving as financial advisors to Blackstone.
Date Published: 19/06/2018
Target: PSAV
Country: USA
Sector: Business and Consumer Services
Type: LBO
Status: Agreed
Vendor: Affiliates of Goldman Sachs and Olympus Partners
Buyer: Funds affiliated with Blackstone
Buyer Advisor: AGM Partners , Barclays , Credit Suisse , Moelis and Company
Terms of the deal were not disclosed