Kelso & Company Will Acquire Swank Audio Visuals; Merge with PSAV Presentation Services
October 9, 2012
Kelso & Company, a private equity firm located in New York, has signed a definitive agreement to acquire Swank Audio Visuals and merge it with another AV company Kelso owns, PSAV Presentation Services.
“PSAV and Swank are industry leaders with impressive histories of growth, innovation and best-in-class customer service,” said Steve Dutton, vice president at Kelso.
He added, “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.”
Swank Audio Visuals provides audiovisual and event technology services within the hotel, resort, meetings and conference center industries.
The majority of Swank’s services are provided via relationships in which the company acts as the preferred outsource service provider to more than 375 hotels and resorts throughout the United States, Canada and the Middle East.
Swank also provides its services by offering a destination events department that operates at multiple venues and locations.
“Swank is very excited about this partnership and the wealth of benefits it will provide our team members, hotel partners and customers, as well as the event technology industry as a whole,” said Greg Diekemper, president and CEO of Swank Audio Visuals.
He added, “We feel this merger will provide our hotel partners and customers with greater access to innovative new technology, as well as a deeper pool of highly trained, experienced personnel to operate it.”
Kelso’s PSAV Presentation Services also is a provider of audiovisual equipment and services to the meeting and event industries.
Kelso plans to merge Swank and PSAV “to create the industry’s single leading source of audiovisual and event technology support,” according to Kelso company officials.
“The entire team at PSAV is thrilled about Kelso’s purchase of Swank Audio Visuals and the impending merger of the two companies,” said Mike McIlwain, president and CEO of PSAV.
He added, “This opportunity provides a multitude of advantages for the industry. Combining our companies’ strengths will give meeting planners and producers unparalleled access to advanced audiovisual and event technology support throughout the United States and the world."
Barclays and Macquarie Capital served as advisors to Kelso and are arranging financing for the transaction.
Partner Voices
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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