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.

Add new comment

Partner Voices
One of the most iconic names on the Las Vegas Strip just got an upgrade. Mandalay Bay has everything that your business needs from a refreshed convention space designed to inspire productivity and creativity, to an impressive selection of world-class restaurants and amenities. If you're looking for a venue that's both inviting and innovative, you have to be here. New Wave Experiences Mandalay Bay continues to invest in a new wave of enhancements both in the convention space and within the resort as a whole. New restaurant openings including Orla by Michael Mina, drawing inspiration from the award-winning chef’s childhood in Egypt and with flavors and décor inspired by the spices found in markets common to coastal Mediterranean towns, as well as Caramá by Wolfgang Puck, bringing the essence of Italy and spirit of Wolfgang into one concept, are recent additions. The Four Seasons Hotel Las Vegas also experienced a recent remodel of all 424 rooms. Swingers, a high-end, adults-only golf and entertainment concept will debut in Fall 2024. Enhanced Technology Creating a truly effective conference venue requires careful thought into what a business needs: the right technology, capacity, and inspiration to bring ideas to the next level. As part of the resort’s refresh, Mandalay Bay implemented state-of-the-art technology upgrades, installing cutting-edge Cat6A Ethernet cabling throughout the convention center. This advancement doubles the frequency of data transmission, enabling lightning-fast speeds up to 9400% faster. The convention center now boasts 11 dynamic digital walls, spanning up to 24' x 13', strategically positioned for brand placements, sponsorships and targeted event messaging. Additionally, attendees can benefit from 20 double-sided 55" mobile flexible display units, facilitating effortless navigation to meeting rooms and events. RFID locks were installed on all meeting room doors, and over 200 motion detection cameras have been placed throughout the space. Refreshing New Design & Fine Art The newly remodeled convention space provides a bright and vibrant atmosphere that complements Mandalay Bay's tropical-inspired brand. Featuring white-washed walls and ceilings adorned with bold floral patterns in cerulean and coral tones, the space is complemented by warm walnut accent walls. In addition to the redesign of all pre-function spaces, meeting rooms and ballrooms, Mandalay Bay's 1 million square feet of exhibit space has undergone a rejuvenation, including new paint, covered pillars and relocated strobe lights. Sustainable Spectacles Mandalay Bay is committed to Focused on What Matters and creating more responsible meetings. Refillable water stations all available around the resort, cutting unnecessary plastic usage from single-use bottles. The Mandalay Bay campus’ recent upgrades represent a bold step forward in redefining the Las Vegas experience. With a focus on innovation, sustainability, and unparalleled service, Mandalay Bay sets a new standard for excellence in business hospitality. Whether you're seeking cutting-edge conference facilities, world-class dining options, or simply a luxurious retreat, an unparalleled meeting experience awaits.