Freeman to Sell Encore Event Technologies to PSAV
January 15, 2019
PSAV is known by many planners as the in-house or preferred audio-visual provider at leading venues across the nation. In fact, PSAV has a presence in nearly 1,600 locations within 10 different countries. The production, creative, technology and staging services company was acquired by investment firm Blackstone in August 2018 and will soon become even larger with the acquisition of Encore Event Technologies.
Encore Event Technologies, a global provider of event technology, staging and production services, was formed in 2014 when The Freeman Company merged acquisitions made respectively in 2009 and 2010: AVT Event Technologies and Encore Productions.
Like PSAV, Encore also operates as an in-house partner to a large number of resorts, hotels and casinos—more than 460 properties in 12 countries.
“Encore is an ideal partner for the PSAV family of companies given its shared commitment to meeting and event planners and strong alignment with our purpose and mission,” said Mike McIlwain, CEO of PSAV.
PSAV’s mission is to connect and inspire people by creating memorable, impactful event experiences.
McIlwain added, “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 wherever an event is held.”
In October 2018, PSAV acquired Canadian production and audiovisual company FMAV to expand its reach into Canada. PSAV officials said the acquisition of Encore will enable the company to further expand its capabilities throughout North America and Asia Pacific.
Ken Sanders, chief development officer for The Freeman Company, said it had been an honor to witness Encore’s growth.
“I want to thank everyone at Encore for applying their work, skills, dedication, and creativity to build this world-class company,” Sanders said, “and I look forward to watching their continued prosperity as part of PSAV.”
Freeman CEO Joe Popolo also expressed pride in Encore for building what he called one of the world’s leading in-house hospitality, event technology and production services businesses. He also stated that the sale did not constitute or mark any change to Freeman’s mission.
“At Freeman, we continue our mission to provide powerful brand experiences, which include our audiovisual solutions, for association and corporate customers around the world,” he said.
No reasons for the sale were provided. The transaction is expected to close later this year.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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