Blackstone Completes Previously Announced Acquisition of PSAV
August 08 2018 - 4:00PM
Business Wire
Blackstone (NYSE:BX) today announced that private equity and
real estate funds managed by the firm have completed the previously
announced acquisition of PSAV, a global leader in event
experiences. As part of the completed transaction, affiliates of
Goldman Sachs (NYSE:GS) will be reinvesting alongside Blackstone in
the transaction to continue to participate in the ongoing growth of
PSAV.
PSAV delivers on its purpose of connecting and inspiring people
by creating impactful event experiences. Through its deep expertise
in creative, production, advanced technology and staging services,
PSAV is an invaluable partner to meeting and event planners. It is
the trusted provider of choice at leading venues across the
globe.
In June, the companies announced a definitive agreement for
Blackstone to acquire PSAV from affiliates of Goldman Sachs and
Olympus Partners. Terms of the transaction were not disclosed.
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with approximately $440 billion in assets under
management, include investment vehicles focused on private equity,
real estate, public debt and equity, non-investment grade credit,
real assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
About PSAV
PSAV is a global leader 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. www.psav.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180808005735/en/
BlackstoneMatt Anderson,
+1-212-390-2472matthew.anderson@blackstone.com
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