PSAV Buys Canada-based AV, Live Event Company FMAV
October 29, 2018
U.S.-based audio-visual and live event company PSAV has acquired FMAV, an audio-visual and live event production company in Canada.
The transaction broadens PSAV’s reach into another region, as well as expands its overall capabilities. Terms of the transaction were not disclosed.
FMAV CEO Bill Brown and his senior team will remain in place and continue to execute on their growth plans, now in partnership with PSAV.
“FMAV is an ideal addition to the PSAV group of companies due to its event production expertise and strong alignment to our purpose and mission,” said Mike McIlwain, CEO for PSAV.
He added, “Bill is an exceptional leader who has built the FMAV business and team into an industry leader across Canada. I am excited about what this means for PSAV, and more importantly our customers, as we continue to focus on more ways to create amazing event experiences in many different types of locations.
FMAV was founded more than 40 years ago and has won numerous industry awards, including multiple Canadian Special Events and ILEA awards.
The FMAV team provides extensive creative production services for galas and special events, conferences and conventions, corporate meetings, outdoor events, and hotel venues.
FMAV has more than 250 staff across Canada with offices from coast to coast, including Vancouver, Calgary, Edmonton, Toronto, Ottawa, Montreal and Halifax.
The company, now a wholly-owned subsidiary of PSAV, will continue to operate under the FMAV brand name.
“We are certainly familiar with PSAV and its long-standing history as a leader in the event experience industry, not just in Canada, but across the globe,” Brown said.
He added, “The entire FMAV family is eager to be joining forces with PSAV and establishing more impactful ways of serving our collective customer base.”
Investment banking firm JEGI represented FMAV in the transaction.
In June 2018, PSAV was acquired by private equity and real estate funds affiliated with Blackstone from affiliates of Goldman Sachs and Olympus Partners.
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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