Blackstone completes acquisition of PSAV

BlackstonePrivate equity and real estate funds managed by Blackstone have completed the acquisition of event experiences company PSAV. As part of the completed transaction, affiliates of Goldman Sachs will be reinvesting alongside Blackstone in the transaction to continue to participate in the ongoing growth of PSAV. The terms of the transaction were not disclosed.

PSAV is a global leader in event experiences, providing creative, production, advanced technology and staging services to help meeting planners deliver more dynamic and impactful experiences at their meetings, trade shows and special events. The team consists of more than 9,000 professionals across 1,500 on-site venue locations and 49 branch offices within the United States, Canada, Mexico, Europe, the Caribbean, and the Middle East. It was recently named to the Forbes 2018 America’s Best Employer list.

PSAV delivers on its purpose of connecting and inspiring people by creating impactful event experiences. Through its deep expertise in creative, production, advanced technology and staging services, PSAV is an invaluable partner to meeting and event planners. It is the trusted provider of choice at leading venues across the globe.

In June, the companies announced a definitive agreement for Blackstone to acquire PSAV from affiliates of Goldman Sachs and Olympus Partners.

USA, New York, NY & Schiller Park, IL

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CRU Group acquires Steel Market Update

CRU GroupCRU Group, the metals, mining and fertilizer consultancy, has acquired the US-based Steel Market Update conference, training and newsletter business. The terms of the transaction were not disclosed.

Founded in 2008, Steel Market Update provides and analyses real-time pricing, market trends, and relevant information related to the North American flat rolled steel market through its newsletter, website and events.

Robert Perlman, Chairman of CRU, said, “We are delighted to be joining forces with John and his team. Our businesses have a shared commitment to independent and insightful coverage of the steel market. CRU’s global position will be greatly strengthened by SMU’s coverage of North America. The SMU brand will go from strength to strength under the CRU umbrella.”

UK, London & USA, Hobe Sound, FL

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Blackstone reportedly near a deal to buy PennWell for around $300M

According to an article on the Forbes website, Blackstone Group is close to finalising a deal to acquire PennWell Corp for around $300 million. The company has estimated revenue of around $170 million. Forbes sources say the deal is being made specifically through Clarion Events, the London-based trade-show operator that Blackstone acquired last summer.

Read the Forbes article here.

USA, New York. NY & Tulsa, OK

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Blackstone-led consortium agrees partnership with Thomson Reuters for financial & risk business

 

Thomson ReutersFollowing our earlier reporting on talks between Thomson Reuters and private equity firm Blackstone, the transaction has now been agreed on, with Thomson Reuters to sell a 55% majority stake in its F&R business to private equity funds managed by Blackstone. The transaction values the F&R business at approximately $20 billion. Thomson Reuters will receive approximately $17 billion in gross proceeds at closing (subject to purchase price adjustments) funded by $14 billion of debt and preferred equity to be incurred by the partnership and a $3 billion cash equity contribution by Blackstone. Thomson Reuters will retain a 45% interest in the F&R business. Thomson Reuters will also maintain full ownership of its Legal, Tax & Accounting and the Reuters News businesses. Canada Pension Plan Investment Board (CPPIB) and GIC will invest alongside Blackstone for the transaction.

The F&R business provides a broad range of offerings to financial market professionals. Its global content sets include fundamentals, estimates and primary and secondary research. F&R also provides customers with tools, platforms, venues and services to enable fast, intelligent decision-making. The businesses that will comprise the new F&R partnership had 2017 revenues of approximately $6 billion.

At the closing of the proposed transaction, F&R and Reuters News will sign a 30-year agreement for Reuters to supply news and editorial content to the new partnership. Under the agreement, F&R will pay Reuters a minimum of $325 million annually. For the duration of the news contract, Thomson Reuters will grant F&R a license to permit F&R to brand its information feeds and products/services with the “Reuters” mark, subject to applicable limitations and restrictions set forth in a trademark license agreement.

Jim Smith, president and chief executive officer of Thomson Reuters, said, “This deal strengthens F&R and should accelerate its growth and benefit its customers across the sell-side, buy-side and trading venues. Blackstone’s strong relationships in the financial services industry and long and successful history of corporate partnerships will help F&R provide new and innovative products and services, drive further efficiencies and navigate ongoing industry consolidation.”

Canada, Toronto, Ontario & USA, New York, NY

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Blackstone in advanced discussions to buy stake in key Thomson Reuters unit

Thomson ReutersPrivate equity firm Blackstone is in advanced discussions with Thomson Reuters to buy an approximate 55 percent stake in the Financial and Risk (F&R) business of Thomson Reuters Corp. for more than $17 billion. According to reporting by Reuters, Thomson Reuters would receive around $4 billion in cash and $13 billion financed by new debt taken on by the new F&R partnership. It would value the unit at about $20 billion.

The F&R business provides a broad range of offerings to financial markets professionals, with $6.1 billion in revenues in 2016. F&R delivers global content sets, including fundamentals, estimates and primary and secondary research alongside tools, platforms, venues and services to enable fast, intelligent decision-making and trading. F&R also provides regulatory and risk management solutions to help customers anticipate and manage risk and compliance.

In an announcement, Thomson Reuters said, “As part of any proposed partnership, Thomson Reuters would retain a significant interest in the F&R business and would retain full ownership of its Legal, Tax & Accounting and Reuters News businesses”.

Canada, Toronto, Ontario & USA, New York, NY

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RELX Group to acquire ThreatMetrix

RELXRELX Group is to acquire ThreatMetrix, a digital identity company that helps businesses prevent online fraud, for £580m in cash.

ThreatMetrix is headquartered in San Jose, California and founded in 2005. ThreatMetrix’s technology analyses connections among devices, locations, anonymised identity information and threat intelligence, and combines this data with behavioural analytics to identify high-risk digital behaviour and transactions in real time.

ThreatMetrix has client relationships across financial services, e-commerce, and media sectors and offers authentication solutions for account origination, payments, “card not present” transactions and account logins.

ThreatMetrix’s Digital Identity Network analyses over 100 million transactions per day across 35,000 websites from 5,000 customers. It is one of the largest repositories of online digital identities in the world, encompassing 1.4 billion unique online identities from 4.5 billion devices in 185 countries.

ThreatMetrix will become part of Risk & Business Analytics under the LexisNexis Risk Solutions brand. LexisNexis Risk Solutions already has an established commercial partnership with ThreatMetrix, including ThreatMetrix’s device intelligence solutions in its Risk Defense Platform.

Risk & Business Analytics CEO, Mark Kelsey, said: “ThreatMetrix is widely recognised as a leader in the digital identity space. Bringing that together with our own strengths in physical identity attributes will give our clients across all forms of commerce and geographies a more reliable, comprehensive approach to fraud and identity risk management while maintaining the privacy and security principles our customers have come to expect. The acquisition is in line with our organic growth driven strategy, supported by acquisitions of targeted data sets and analytics that are natural additions to our existing business.”

In 2017, RELX Group completed eight acquisitions for a total consideration of £123m, and disposed of 17 assets for a total of £87m.

USA, New York & UK, London & The Netherlands, Amsterdam & USA, San Jose, CA

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Nextmedia acquires The Women’s Game website

NextmediaThe Australian publishing company Nextmedia, part of the Forum Media Group, has acquired the female sports coverage website The Women’s Game. The terms of the deal were not disclosed.

Originally, the site was largely focused on football, but after its relaunch on 1 February 2018, will cover Australian women’s sport across multiple disciplines including football, netball, cricket, AFL and rugby. The target market for The Women’s Game is active players and young athletes who are looking to participate in the professional leagues of women’s sports. It was started by legal professional and football fan Ann Odong in 2008, when she found there was lack of coverage in mainstream media about the W-League and Matildas.

Kevin Airs, digital head of sports at Nextmedia, said, “There has been a huge rise in the professionalisation of women’s team sport, which has corresponded with an equal increase in the standard played, generating far more interest among fans and inspiring more people to get involved themselves. We want to be a part of that and be part of raising the profile of women’s sport, as well as the standard of reporting it.”

Australia, St Leonard’s, NSW & Brisbane, QL