PSAV Expands Into Global Trade Show Market with Hargrove Acquisition
January 8, 2018
Experiential events and exhibitions production company, Hargrove, has been acquired by the parent holding company of PSAV, a global provider of audiovisual and event experiences.
No financial terms of the deal were disclosed.
The acquisition not only brings together a premium experiential events and trade show company with one of the largest event experience providers in North America and Europe, but also marks PSAV’s ownership group’s entry into the global trade show market and the acceleration of its expansion into live experiential events.
For Hargrove, the acquisition by PSAV will expand the company’s scale, provide access to leading technology, a vast customer base and a platform for international growth.
The new relationship also creates opportunities for both companies to partner and refer business to each other as they work in tandem to deliver services designed to enhance their clients’ live event experiences.
“The Board and I are so pleased to be adding the incredibly talented folks at Hargrove, known for delivering large-scale, memorable experiences for more than seven decades, to the PSAV family,” said Mike McIlwain, president and CEO of PSAV and a board member of its parent holding company.
He continued, “This transaction was driven by the Board’s desire to create a network of companies that would be able to offer customers expanded production and exhibition market capabilities.”
Founded in 1946 and based in Lanham, Md., Hargrove is a full-service, creative and technical production company that serves myriad segments of the live events market, creating face-to-face experiences for some of the world’s most recognized corporations, associations and government agencies.
Hargrove will maintain its distinct brand, culture and independence, while Tim McGill will remain at the helm as the company’s CEO and report to PSAV Holdings’ Board of Directors.
“I could not be more excited to join the PSAV family, whose leadership shares our vision to create a world-class, global live events company,” McGill said.
Going forward, the PSAV family of companies will continue to execute on the group’s strategy to provide solutions to help bring face-to-face events to life.
“We have been a family-run business since being founded by my grandfather and father,” said Carla Hargrove McGill, president of Hargrove.
She continued, “There are no better caretakers for their legacy and our extended family of employees who helped us build one of the greatest experiential production companies in the world than the people within the PSAV family of companies.”
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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