Bain Capital, Crestview, Goldman line up to buy Kelso-backed PSAV Presentation


PSAVPrivate equity houses are reportedly lining up to bid for Kelso & Partners-backed events services company PSAV Presentation, which the firm hopes to sell for up to $1bn.

Bain Capital, Crestview Partners and Goldman Sachs Principal Investment Area are all interested in the audiovisual services provider according to Reuters, which cited three people familiar with the matter.

Kelso bought the business in a $413.4m deal in 2007 and is ready to sell for about seven times its $130m to $140m EBITDA, it is understood.

The company is the biggest provider of in-house audiovisual services to the US hospitality industry, and works with more than 800 properties around the world.

Last October New York-based Kelso spent $270m bolting-on PSAV competitor Swank Holdings to the asset.

Kelso vice president Steve Dutton said at the time, “PSAV and Swank are industry leaders with impressive histories of growth, innovation, and best-in-class customer service.

“With PSAV and Swank as one combined entity, hoteliers will benefit from a single source of audiovisual and technology support for every size hotel and event around the world.”

Copyright © 2013 AltAssets