Goldman PE Unit To Pay $900M For Kelso & Co.’s PSAV

Law360, Los Angeles (November 19, 2013, 8:46 PM EST) -- Goldman Sachs Group Inc.’s private equity group is buying a Long Beach, Calif-based audiovisual and events company from Kelso & Co. for $900 million, according to reports on Tuesday.

Goldman agreed to buy PSAV Presentation Services from Kelso, according to Debevoise & Plimpton LLP, the firm advising the acquisition target in the deal. Kelso bought the company for $413 million in 2007, meaning Goldman’s offer will double Kelso’s initial investment, Reuters said Tuesday.

The terms of the deal weren’t disclosed, though the parties confirmed the sale...
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