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2016-01-21

PSAV: PSAV® to Acquire KFP Holding GmBH, Expanding European Footprint

SCHILLER PARK, Ill., Jan. 21, 2016 (GLOBE NEWSWIRE) -- PSAV announced today
that it has signed an agreement to purchase KFP Holding GmBH, a leading
provider of event technology services headquartered in Frankfurt, Germany.
KFP is a market leader in providing audiovisual and production services and
enjoys a strong presence in Germany, Austria and Switzerland. The parties
anticipate the closing of the transaction later in the first quarter of this
year, subject to customary closing conditions.

The acquisition of KFP is a continuation of PSAV's strategy to seek growth in
the international marketplace and partner with leading event technology
providers to service customers across a broader global footprint. The
acquisition will extend PSAV's presence in Europe that includes operations in
the UK, Germany, France and Monaco. KFP has been a leading provider in the
market place for nearly 20-years. They have a celebrated track record of
supplying event technology and communication services to hotels, corporations
and meeting and event agencies.

"The entire PSAV team joins me in enthusiastically welcoming KFP into the PSAV
family. KFP's strong market presence in Central Europe accelerates our global
growth efforts, and its sterling reputation for excellence and customer
service is essential to maintaining our reputation as the go-to event
technology partner," said PSAV President and CEO, Mike McIlwain. "With this
partnership, we will be able to provide our venue partners and our customers
more capabilities in more places throughout the world."

KFP's CEO, Klaus Flettner, who will continue to serve as KFP's Managing
Director, stated: "This is an extremely exciting time for our company and
team members. This acquisition offers a stronger combination of resources to
our customers, while opening up a world of possibilities and career
advancement for our team. I am thrilled to join the PSAV family and
developing our combined business in Central Europe."

KFP will continue to operate as they do today with the added benefit of PSAV's
resources and support structure. The operational structure and leadership
team at KFP will remain in place to assist with the transition and manage
client relationships.

About PSAV®
PSAV is a leading provider in the global event technology services industry.
As the event technology provider of choice at leading hotels, resorts and
convention centers, our customers look to deliver more dynamic and impactful
meetings and events. PSAV's customers comprise event organizers,
corporations, trade associations and meeting planners, and they choose PSAV
for its innovative and comprehensive service offerings, exceptional customer
service and global platform. PSAV employs more than 7,500 highly trained
staff across 1,300 venues throughout the U.S., Canada, the Caribbean, Mexico,
Europe and the Middle East. Visit us at www.psav.com and
www.company.psav.com.

Andee Oleno
(480) 905-3445
aoleno@psav.com
www.psav.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PSAV via Globenewswire

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