Sources said that Kelso & Company has appointed Macquarie Group and Barclays to search for a buyer for PSAV Presentation Services. PSAV Presentation Services was acquired by Kelso in 2007. PSAV's sale could rake in as much as US$1 billion for Kelso, according to two sources familiar with the deal.

Kelso invested around US$415 million in the 2007 deal to acquire the Long Beach, California-based company. PSAV is one of the largest providers of audiovisual solutions to the U.S. hotel sector. The company also helps in coordinating meetings and various events using high-definition plasma screens and projectors.

While many other event services providers could be interested in PSAV, Kelso is more likely to sell PSAV to another private equity group, the sources said.

PSAV Presentation Services has earnings before interest, tax, depreciation and amortization of around US$130 million and US$140 million. Analyst said that the company could be made available for somewhere between US$900 million and US$1 billion.