NEW YORK – The audio-visual (AV) provider PSAV moved into the Canadian market in October by acquiring FMAV, a venerable Toronto company that has provided AV and other event production services in seven major Canadian cities over the past 40 years.
Financial terms of the sale were not announced, but FMAV will continue to operate under its current brand and management team as a division of PSAV. The investment bank JEGI represented FMAV in the negotiations.
“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.
FMAV currently includes about 250 employees based in Toronto, Montreal, Vancouver and other major municipal areas of Canada. Along with trade shows, the company provides event services to corporate meetings, outdoor events, galas, and other similar gatherings.
PSAV provides AV and other production services through 49 branch offices worldwide.
“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,” McIlwain said.
The deal was also another expansive move in the exhibitions industry for Blackstone, the equity firm that has been quite active in recent years. Blackstone, owners of Clarion Events, acquired PSAV in June and Britain’s National Exhibition Centre Group earlier in October. PSAV had acquired the established Washington events company Hargrove at the beginning of 2018.