Berkshire Partners Invests In Audio-Visual Company –

Berkshire Partners LLC this month purchased a majority stake in TELAV Inc., a Canadian audio-visual equipment rental company, for an undisclosed amount. Berkshire Vice President Ross Jones declined to discuss terms of the deal, but said his group usually puts $10 million to $50 million of equity into investments and this deal falls into the lower half of that range. Senior debt was provided by Banque Paribas of Canada, Heller Financial and First Union Capital Markets Corp.

Jones said Montreal-based TELAV has estimated sales for 1999 of more than C$100 million ($66 million).

Boston-based Berkshire became interested in the company because of the increasing trend of businesses outsourcing their audio-visual needs, Jones said. TELAV has differentiated itself from its competitors by providing high-quality equipment and well-trained employees, while still maintaining its growth potential, he added.

TELAV currently operates 25 offices across Canada, as well as two U.S. offices in Seattle and Washington, D.C. With the additional financing, the company hopes to participate in the recent consolidation trend in the U.S. audio-visual rental and staging market, TELAV President Robert Thiel said. Recognizing TELAV’s established position in Canada, Thiel said he would also like to see TELAV become the leader in the North American audio-visual market.