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Olympus Closes Sale of Event Experiences Producer PSAV to Blackstone
Thursday 09 August 2018

9 August 2018 - US-based private equity firm Olympus Partners in partnership with affiliates of US-based financial services group Goldman Sachs (NYSE: GS) have closed the sale of event experiences specialist PSAV to US-based investment firm Blackstone (NYSE: BX), the firm said.

Terms of the transaction were not disclosed. The deal was announced in June.

PSAV offers in creative, production, advanced technology and staging services. PSAV is a partner to meeting and event planners.

Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for management buyouts and for companies needing capital for expansion.

PSAV is in event experiences, providing creative, production, advanced technology and staging services to help meeting planners deliver more dynamic and impactful experiences at their meetings, trade shows and special events. 

The 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. It is the trusted partner and exclusive on-site provider of choice at leading venues worldwide. 

PSAV was recently named to the Forbes 2018 America's Best Employer list. The company is headquartered in Schiller Park, Ill. 

The Olympus team included Manu Bettegowda, Evan Eason, Robert Polakoff and Ozan Cubukcu. PSAV and Olympus were represented in the sale by Goldman Sachs and Morgan Stanley with legal representation from Weil, Gotshal and Manges LLP and Kirkland and Ellis LLP.
Details
Date Published: 09/08/2018
Target: PSAV
Country: USA
Sector: Business and Consumer Services
Type: LBO
Financing:
Status: Closed
Vendor: Affiliates of Goldman Sachs and Olympus Partners
Buyer: Funds affiliated with Blackstone
Buyer Advisor: AGM Partners , Barclays , Credit Suisse , Moelis and Company
Comment:
Terms of the deal were not disclosed

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