“We are very excited to partner with Blackstone, one of the world’s preeminent investors in the hotel, tradeshow, travel and leisure, and business services sectors, to support the next phase of PSAV’s growth,” said Mike McIlwain, president and CEO of PSAV.

He added, “Blackstone is an ideal partner who is highly supportive of our team members and their commitment to our purpose, mission and values. Through this partnership, we and Blackstone intend to drive further innovation and growth alongside our world-class roster of venue partners and meeting planner customers. We are very appreciative of the successful partnership we have had with Goldman Sachs and Olympus Partners.”

Peter Wallace and David Kestnbaum of Blackstone’s Private Equity team commented, “We are thrilled about the future of PSAV’s partnership with Blackstone. 

PSAV is the market leader in event experiences, and we look forward to working with the company’s world-class management team to provide the broad array of value-added support and expertise that Blackstone offers. This is a great fit given our firm’s deep and long-standing record and relationships in the hospitality industry and other sectors relevant to supporting PSAV’s attractive growth prospects.”

Tyler Henritze and Scott Trebilco of Blackstone’s Real Estate team added, “Blackstone is already a significant partner to PSAV, using its services within nearly all our existing hotel portfolio. We are excited about pursuing additional ways to enhance the company’s growth and value-add to its venue partners and meeting planners via our industry presence going forward.”