According to Exhibition News, CloserStill Media has launched a privately-funded investment arm and made its first acquisition.
Closer2 has been granted £3m in funding by the existing CloserStill management team and privately equity firm NVM to spend on acquisitions that diversify the organiser’s show portfolio into new markets.
Closer2’s first acquisition is Biofuels Media, which operates the annual European Bioenergy Expo and Conference (EBEC) at Stoneleigh Park as well as an information portal for the renewable energies market. Biofuels’ three staff will move across to CloserStill and its former principal Richard Price will now oversee the newly created Closer2 Alternative Energy division as a minority shareholder.
CloserStill MD Andy Center