Shepard Ramps Up Growth of AV Division with Production Associates Acquisition
January 4, 2018
Event production company, Shepard, has made its second buy this winter with the acquisition of Northern Virginia-based Production Associates, a full-service audio-visual management, staging and consulting company that provides services to association, corporate and government events.
“We are excited to welcome Production Associates to our growing Shepard AV family,” said Stuart Danneman, executive vice president of Shepard AV. “They bring to the team a strong service-based culture, innovative technology and a thriving presence in the Virginia, Maryland and DC markets.”
According to Shepard officials, Production Associates brings a wealth of experience and custom-developed, dynamic tools to Shepard, including Speaker Vision, its presentation management platform that was designed and developed in-house and offers a seamless experience loading and managing presentations pre-show, onsite and post-show.
This platform will be integrated into Shepard AV and will be made available to all Shepard AV customers immediately.
“By joining Shepard, we’re expanding our capabilities and bringing more solutions to our customers, which allows us to compete more effectively for future business,” said Michael Loftus, president of Production Associates, which was founded in 2004.
He continued, “Moreover, Production Associates is a great cultural fit with Shepard, sharing the same core values and commitment to a high level of customer service.”
According to Carl Mitchell, executive chairman of Shepard, the acquisition advances the company’s strategic imperatives focused on consistent service, innovative solutions, responsiveness and creating overall successful experiences.
“Over the past 16 months, we have aggressively expanded our portfolio, enabling us to provide our customers an all-inclusive solution to enhance their planning experience,” Mitchell said.
He added, “We see substantial long-term growth opportunities in the audio-visual and event technology space and will continue to invest to meet the demands of the industry.”
The acquisition of Production Associates is Shepard’s second in the last 30 days as the company continues to invest in solutions in response to greater demand for event technology and audio-visual products and services.
In early December, the company acquired McCUNE Audio-Video-Lighting, a California-based staging, lighting and audio visual company.
Production Associates will continue to operate out of its Reston, Virginia-based office as it makes the transition to a Shepard AV company.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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