Blackstone Completes Previously Announced Acquisition of PSAV
Aug. 08, 2018
NEW YORK--(BUSINESS WIRE)--Aug 8, 2018--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.
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.
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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Matt Anderson, +1-212-390-2472
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT GENERAL ENTERTAINMENT PROFESSIONAL SERVICES BANKING FINANCE COMMUNICATIONS PUBLIC RELATIONS/INVESTOR RELATIONS EVENTS/CONCERTS
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