PSL Stages Management Buyout

The management team at Presentation Services Ltd (PSL), has purchased the assets and business of Gearhouse Group PLC’s Southern UK operation, together with the company’s North American operations. These include PSL and PSL Central, Lighting Unlimited, Set & Stage, Proquip, Presentation Graphics, Gearhouse Multimedia, ConferenceCast and Quorom Travel. In the US, both the Los Angeles and Nashville companies have been purchased. The transaction was concluded on Saturday 3 March and equity funding has been secured for the new company through 3i, with Barclays providing debt funding. The new Group is to be called Presentation Services Group Ltd; all of the companies will be relaunched under the PSL name and will continue to focus on the rental, staging, exhibition and concert touring markets. The new management team comprises Gary Davis, Chris Scadding, Darren Glossop, Irene McLean, Janet Smith, Stephen Rhodes and Nasser Abbas.

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