"Be Bold and Proceed"

ST. LOUIS, Nov. 13, 2012 (GLOBE NEWSWIRE) -- A wise person once said: "If we don't change, we don't grow." Last month Kelso & Company announced a significant boost to its growth with the acquisition of Swank Audio Visuals®, as well as plans to merge Swank with PSAV®Presentation Services. Today, the organizations made known that Kelso's acquisition of Swank has been completed, that the merged company will be led by Greg Diekemper, Swank's President and CEO, and that it will adopt the PSAV name. The merger also adds St. Louis, MO to PSAV's list of major headquarters.

The "new" PSAV is the leading provider of audiovisual and event technology services in the world. It will provide technical staff and equipment at 1,200 hotels and resorts throughout the United States, Canada, Mexico, Europe and the Middle East. PSAV also supports client events outside of its partner hotels and resorts by traveling with the client to any meeting venue.

"Tremendous thought went into determining the best name for the merged company," said Greg Diekemper, CEO of PSAV. "In the end there were several compelling reasons why the PSAV name provides the greatest benefits for our hotel partners, meeting planner customers and team members. Swank Audio Visuals has a 75-year legacy of providing flawless service and innovative technology, and we are committed to finding prominent and appropriate ways to honor the Swank name as we move forward as PSAV."

The Leadership Team of the merged company announced today consists of 20 senior managers from both Swank and PSAV. Reporting to Diekemper will be President Mike McIlwain; Chief Financial Officer Dan Bauman; General Counsel Whit Markowitz; Chief Learning Officer Roy Scardina; and Senior Vice Presidents Susan DeVito and Arthur Clyne, who will be responsible for New Hotel Sales.

Mike McIlwain, President, will be directly leading Chief Information Officer Pat Enright; Chief Operating Officer Sky Cunningham; Senior Vice President of Marketing/GSO Sales Greg Van Dyke; Senior Vice President of Human Resources Mike Schott; and Brian Lagestee and Mike Stengel as Senior Vice Presidents of Revenue Management, Profit Improvement and Best Practices.

COO Sky Cunningham will lead several Senior Vice Presidents of Operations: Paul Wedesky, National Operations; Craig Hill, Mid-Atlantic/Northeast Region; Stephen Lipa, Southeast Region/NYC; Steve Oliver, Midwest Region; John Rissi, Northwest/Hawaii Region; Ali Vafa, Central/International Region (includes Europe, Canada and Mexico); and Annette Moody, Product Management.

Andee Oleno                                        
480-905-3445
aoleno@swankav.com
www.swankav.com

Greg Van Dyke                                           
562-366-0260
gvandyke@psav.com
www.psav.com

As the world's leading provider of event technology, PSAV delivers technical expertise, creative solutions and a vast array of equipment for meeting planners and producers across the corporate, association and tradeshow industries. Provided with a hospitality approach, services include audio, video, projection mapping, lighting, creative, stage design, production, rigging, electrical, webcasting/webarchiving, Internet and network support and 3D renderings. Exclusive technology offerings include SwankDraw©, for on-site digital renderings and Mobile Meeting Manager®event apps. PSAV can trace its rich heritage back to 1937, with primary offices in Long Beach, CA; Schaumburg, IL; and St. Louis, MO. PSAV employs more than 4,500 full-time, talented professionals in 1,200 destination resorts and hotels throughout the U.S., Canada, Mexico, Europe and the Middle East. www.psav.com

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