Irving, Texas – July 25, 2017 – J&S Audio Visual (JSAV) announced today that it has agreed to an investment from Ashford, Inc. (NYSE American: AINC) (Ashford), a leading provider of global asset management, investment management and related services to the real estate and hospitality sectors. The investment provides Ashford with controlling interest in JSAV, a move designed to leverage the unique synergies of the two companies.
JSAV views the Ashford transaction as an opportunity to share its relationship-based approach with more customers. “We are excited about this new relationship with Ashford,” said Monroe Jost, Owner and CEO of JSAV. “This partnership will allow us to expand our inventory and services for our clients and open access into new markets.”
JSAV President, Kevin Jost commented that the Ashford investment, “Will usher in a new era of managed growth for JSAV while remaining focused on the strong customer and employee relationships that are such an integral part of the JSAV culture.”
Ashford is equally optimistic about the new arrangement with JSAV. “We continue to use our hospitality and management experience to identify and invest in unique business opportunities in the industry and are excited to integrate our deep operating experience with the customer service and professional quality of JSAV,” said Monty J. Bennett, Ashford’s Chairman and Chief Executive Officer. “JSAV provides best-in-class solutions for the increasing demand for high-end audio-visual needs for meetings and events, and we are excited about the future of this partnership.”
JSAV is a privately-held company with over 30 years of operating history based in Irving, Texas. They have emerged as a premier AV provider with five locations in the United States, Mexico, and the Dominican Republic, plus they manage AV services at over 50 in-house hotels and convention centers. The company provides an integrated suite of audio visual services, including event and live show, hospitality, creative layout, and design & integration, making JSAV a leading, single-source solution for its clients’ meeting and event needs.
JSAV estimates its customer retention rate to be approximately 90% underscoring the company’s high level of quality customer service, professional production quality, and unique, tailored solutions. JSAV enjoys an industry-wide reputation for fostering a culture of strong, personal relationships with both clients and employees built on trust and integrity. Monroe Jost and Kevin Jost will remain the CEO and President of JSAV.
Our thanks go out to the many corporations and individuals who made this relationship possible to include Jeremy Welter with Ashford, Inc., Wayne Gordon with Glaucon Capital Partners, L.L.C., Ken Menges with Akin Gump Strauss Hauer & Feld LLP, and Felipe Lopez with Gerente Juridico Corp, along with their associates and to the key employees within JSAV who pulled and assembled the needed data.
For more information, please contact:
Vice President Sales & Creative Services, JSAV