Private equity firms are preparing to submit final bids for events services company PSAV Presentation Services, that could fetch its owner as much as $1 billion, Reuters yesterday reported, citing sources.
Bain Capital, Crestview Partners, and Goldman Sachs' private equity arm are among the firms in the race for PSAV Presentation, which was acquired by private equity firm Kelso & Co in 2007 for $413 million.
PSAV Presentation provides creative, audiovisual, interactive, staging, and facility services. It offers thematic and design, production, and video creative services, audiovisual services for ballrooms, boardrooms and breakouts, exhibit booths, and public spaces.
The California-based company also provides services for interactive video walls, audience engagement, content management systems, mobile solutions, and virtual events, staging services, such as lighting, projection, people, sets, and video mapping; and facility services, high speed Internet solutions, business centers, onsite event technology, power distribution, and rigging.
In October 2012, it strengthened its position as a services provider to the hotels and resorts industry by acquiring Swank Audio Visuals, which provides audiovisual and event technology services to more than 375 hotels and resorts throughout the US, Canada and the Middle East.