PSAV, Inc. (PSAV) Files $100M Common Stock IPO

PSAV, Inc. (NYSE: PSAV) filed a registration with the U.S. SEC for an IPO of its common stock. The proposed maximum offering price is $100 million. The company plans to trade on the NYSE under the symbol "PSAV."

Underwriters on the offering are Goldman, Sachs & Co., Morgan Stanley, Barclays, Credit Suisse, Macquarie Capital, Piper Jaffray, and William Blair.

Financial commentary: Between 2010 and 2014, our revenue increased from $573 million to $1,264 million, Adjusted EBITDA increased from $38 million to $157 million and net income (loss) improved from $(35.4) million to $(1.4) million. For the year ended December 31, 2014, our revenue of $1,264 million grew 15% versus the prior year. In this same period, our Adjusted EBITDA of $157 million represented 12% of revenue and 20% growth over the prior year. The 2014 amounts reflect the combined predecessor period from January 1, 2014 through January 24, 2014 and successor period from January 25, 2014 through December 31, 2014 adjusted to give effect to the Sponsors Acquisition.

PSAV is a leading provider in the $23 billion global audiovisual and event technology services industry.

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