(Toronto – October 25, 2018) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have completed the sale of Frischkorn Audio-Visual Corp. (“FMAV” or the “company”) to PSAV, a portfolio company of Blackstone (NYSE:BX) (“Blackstone”).
The financial terms of the transaction were not disclosed.
Over the course of its investment, Ironbridge supported management to expand the company’s national market share by completing three acquisitions, investing in sales capabilities, and improving internal systems and processes.
“Partnering with the FMAV management team was an excellent experience for Ironbridge. Bill and his team did an impressive job growing the business over the last five years.” said Peter Samson, Managing Partner of Ironbridge. “We appreciate management’s dedication and wish them continued success in their new partnership with PSAV.”
“Ironbridge was a valuable partner for the FMAV management team,” said Bill Brown, President and CEO of FMAV. “They played an integral role supporting us as we executed our strategic plan and grew the business into a national platform. We are grateful to the Ironbridge team for their backing and are excited about the next chapter of growth with PSAV and Blackstone.”
Frischkorn was the first investment in Ironbridge’s second private equity fund, Ironbridge Equity Partners II, LP, a fully-committed $154 million fund.
FMAV is Canada’s leading independent provider of audio-visual services to corporate clients. Over the last 42 years, FMAV has built a strong, well-recognized national brand by continually providing high-quality event production for corporate events, association events, galas, conventions, product launches and hotel meetings. FMAV employs a workforce of highly-trained technicians and maintains a stock of equipment with the latest technological advancements, allowing it to be an innovative, one-stop source of supply for audio-visual services in Canada.
Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $400 million including its third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund raised in April 2016.
For more information, contact:
Ironbridge Equity Partners
President & CEO
FMAV (905) 281-9328