BB&T Capital Markets Serves as Exclusive Financial Advisor to Southern Audio Visual in its Sale to PSAV
On December 1, 2016, Southern Audio Visual, Inc. (“SAV” or the “Company”), a portfolio company of Prudential Capital Partners (“Prudential”), was acquired by Audio Visual Services Group Inc. (d/b/a PSAV) (“PSAV”), a portfolio company of Olympus Partners and the Merchant Banking Division of Goldman Sachs. BB&T Capital Markets served as the exclusive financial advisor to SAV.
About the Companies
SAV is a high-quality provider of live event audiovisual experiences for clients and luxury hotel partners based in Miami, Florida. Family led since its founding in 1947, SAV has a long-established culture of service excellence and collaborative partnerships with 26 marquis luxury hotels and resorts in the U.S. and provides comprehensive support services for corporate meetings, sales conferences, conventions, and other professional events.
Prudential Capital Partners is the middle-market mezzanine debt and equity fund management business sponsored by Prudential Capital Group, the private debt investment arm of Prudential Financial, Inc. (NYSE: PRU). Managing a portfolio of nearly $78 billion with nearly 1,000 client companies around the globe, Prudential Capital Group has been a leading provider of private debt, mezzanine and equity investment to middle-market companies worldwide for more than 75 years.
PSAV is a leading provider in the global event technology services industry delivering creative production, advanced technology, and staging to help our customers deliver more dynamic and impactful experiences at their meetings, tradeshows and special events. As the event technology provider of choice at nearly 1,500 leading hotels, resorts and convention centers throughout the U.S., Canada, the Caribbean, Mexico, Europe and the Middle East. PSAV’s customers comprise event organizers, corporations, trade associations and meeting planners who choose PSAV for its innovative and comprehensive service offerings, exceptional customer service from 8,200 highly trained staff across a global platform.
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle-market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including business services, restaurants & consumer, healthcare, industrial & packaging, transportation & logistics, and financial services. Olympus manages in excess of $5.5 billion on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.
Founded in 1869, the Goldman Sachs Group, Inc., is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. With nine offices across seven countries, MBD is one of the leading private capital investors in the world with equity and credit investments across corporate, real estate, and infrastructure strategies. Since 1986, the group has invested approximately $180 billion of levered capital across a number of geographies, industries and transaction types.
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About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.