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Olympus Exits Stage Left: Sells PSAV to Blackstone

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Olympus Exits Stage Left: Sells PSAV to Blackstone

PR Newswire

STAMFORD, Conn., Aug. 8, 2018 /PRNewswire/ -- Stamford, CT based private equity firm Olympus Partners in partnership with affiliates of Goldman Sachs is pleased to announce the closing of the sale of PSAV to Blackstone. 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.

Manu Bettegowda and Evan Eason, partners at Olympus, commented, "We have been fortunate to partner with Goldman Sachs and with a very talented and experienced management team led by Mike McIlwain. PSAV is extremely well positioned to continue its stellar growth. We look forward to watching the team continue to drive that growth and market leadership."

PSAV President and CEO Mike McIlwain said, "We are very appreciative of the successful partnership we've had with Olympus and Goldman Sachs over the last four and a half years. While we are excited about the future, we are grateful for the growth and success we've been able to experience with these two highly respected organizations."

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 & Manges LLP and Kirkland and Ellis LLP.

About Olympus Partners
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. Olympus' primary investment thesis is to back high quality management teams in their growth plans with strategic advice and capital. 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 $8.5 billion primarily on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.

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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SOURCE Olympus Partners

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