SAE International acquires SMi Group

SMi logoSAE International, the professional association and standards developing organisation for engineering professionals, has acquired SMi Group Ltd, a United Kingdom-based company that specialises in the production of global events for the aerospace, defense and medical/pharmaceutical sectors. As part of the acquisition, SAE International will merge SMi Group with Tech Briefs Media Group (TBMG) to form the SAE Media Group.

David Schutt, Chief Executive Officer of the SAE Group, welcoming SMi, said, “As an organization, we have historically expanded through a strategic M&A approach, so this move helps us achieve our global goals,” said Raman Venkatesh, Executive Vice President and Chief Operating Officer of SAE International. “The formation of the new SAE Media Group directly supports the priorities and focus of the larger SAE organization, and helps us leverage our broad capabilities.”

SMi Group specialises in coordinating high-level events within its target industries that convene influential thought leaders with speakers to learn, engage and network on the topics most pressing to industry. TBMG, an existing SAE International company, offers a diverse set of print and electronic media resources that deliver unparalleled coverage of the design engineering market across multiple disciplines.

Dale Butler, Managing Director of SMi Group, said: “The expanded SAE Media Group will provide increased diversity of content and allow us to serve SMi Group’s customers and clients with new, innovative products and services, while maximizing growth, synergies and scale opportunities across our combined international products. We are excited about the next chapter of our evolution as a leading producer of specialist business-to-business conferences and look forward to growing as part of the SAE Media Group.”

The acquisition of SMi Group Ltd was approved and finalised by the SAE Board of Directors in January 2020.

USA, Warrendale, PA & UK, London, UK

 

 

Roar Techmedia acquires events from Prysm Media Group

5c7.Roar-Media_Logo-webRoar Techmedia, the trade exhibitions organiser, has secured a significant investment from Apiary Capital to fund the acquisition of a portfolio of events from Prysm Media Group. The events are focussed on the healthcare, environmental and marketing technology sectors and include leading brands such as RWM, Naidex and Call & Contact Centre Expo.

Roar Techmedia was founded by Duncan Kirk. Russell Taylor, Chairman of Roar Techmedia, previously led ITE Group and Earls Court & Olympia.

“The healthcare, environmental and B2B marketing sectors are not only growing rapidly in terms of investment, but are also high on the public agenda,” commented Duncan Kirk, CEO of Roar Techmedia. “More effective management of the aging population, large scale commercial recycling and digital transformation, are all critical to how we live, communicate and work.”

“The potential to revolutionise these events not only in the UK, but also internationally, is significant,” continued Kirk. “Our management team’s experience of engaging global audiences, with programmes of high-quality content will deliver a new experience to attendees and exhibitors alike.”

“Roar Techmedia is taking advantage of a rapidly growing market opportunity and has a uniquely dynamic and powerful approach,” says Dan Adler, Partner at Apiary Capital. “The proven expertise of Roar’s management team, aligned with our track record in this sector, made it a compelling proposition for us. We look forward to working with the team as they implement their exciting plans for the exhibitions and to supporting the growth and global expansion of the business.”

UK, London

 

 

Portugal’s Cofina acquires Media Capital from Spain’s PRISA for EUR 225M

Cofina logoPortuguese publishing group Cofina has acquired Media Capital, which operates one of Portugal’s biggest TV channels, from Spanish firm PRISA (Promotora de Informaciones SA) for EUR 255 million (GBP 225 million). The terms of the transaction were not disclosed.

PRISA logo

Media Capital is the largest group in the Portuguese media sector. Founded in 1992, it owns TVI which, via its channels TVI, TVI 24, TVI Ficção, TVI Reality, TVI Africa and TVI Internacional, reaches 10 million Portuguese speakers worldwide. The group includes MCR, the leading radio group in Portugal, operating Radio Comercial, M80, Cidade, SmoothFM and Vodafone FM, in addition to 14 digital radios.

Media Capital logoThe group also operates Media Capital Digital (IOL and TVI Player), and can boast more than 390 million visits to the group’s websites and eight million followers on social networks. Media Capital is also the owner of Plural Entertainment, one of the largest producers of audiovisual content on the Iberian peninsula (winner of two Emmy awards), as well as EMAV (a technical and recording services company) and EPC (a stage construction and rental company), both with a presence in the European market.

Cofina already owns tabloid Correio da Manha and business newspaper Jornal de Negocios, among others.

A Cofina spokesperson said, “This acquisition fits with the company’s vision for the media and appears to be the one that is best able to ensure its growth and sustainability, and is in line with the global trend towards consolidation of the media sector in the last years”.

Portugal, Lisbon & Porto  & Spain, Madrid

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Verisk acquires energy information business Genscape from DMGT for GBP 297M

Verisk logoThe Daily Mail and General Trust, owner of the Mail titles, has sold its energy information business Genscape for GBP 297 million to US firm Verisk. Genscape collects data and offers forecasts and analytics to customers in the market, as well as providing software solutions.

New York-listed Verisk, which also provides risk analysis to the insurance sector, acquired the energy consultancy Wood Mackenzie for GBP 1.85 billion in 2015. Genscape will become part of Wood Mackenzie.

DMGT chief executive Paul Zwillenberg said, “This transaction marks another major milestone in DMGT’s continued transformation and is in line with our strategy. It will further increase the focus of the portfolio and will result in DMGT operating in five sectors, compared to ten in 2016.”

He added that the sale of Genscape was “consistent with our strategic priorities” and would add more than GBP 200 million net cash to the company’s balance sheet.

UK, London, USA, Louisville, KY & Jersey City, NJ

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Media Production and Technology Show acquires BVE assets

Media Business Insight logoMedia Business Insight’s Media Production and Technology Show has acquired assets related to Broadcast Video Expo from ITE Group following its decision to close the event.

The Media Production & Technology Show is the number one event for all those working in content creation within the film, TV and video industry. The show plans to significantly extend and enhance its offering to more technology manufacturers, suppliers, content and new partners for the event.

Taking place on May 13th-14th 2020 at London Olympia, MPTS will now be the UK’s biggest show for the broadcast production and technology sector.

MBI has acquired the rights to BVE’s intellectual property, marketing data, and marketing channels.

Charlotte Wheeler, MPTS Event Director said, “Our visitor numbers were up by 25% this year and we had a record rebook level with exhibitors. We are building on the success we’ve had in developing our show over the last four years and the brilliant relationships we have with the industry and our customers.

“People in the market have often said they’d prefer one UK show and now we are able to focus on delivering the biggest and best event for exhibitors and visitors. We are looking forward to working with exhibitors and visitors who have attended BVE in the past to deliver a fantastic event for the whole industry in May 2020.”

MPTS will extend its features to include new industry partnerships, a dedicated Technology Theatre, a Technology Networking Zone and a larger Broadcast Sports Theatre & Zone.

UK, London

Nurnberg Messe acquires largest tradeshow organiser in Greece

Nuernberg Messe logoA new strategic partnership between the Nurnberg Messe Group and Forum SA, the largest exhibition company in Greece, has been launched following the acquisition of FORUM by the German trade fair company.

Integration into the Nurnberg Messe Group makes Forum SA now the largest subsidiary of the German exhibition giant.

The Greek trade show industry, according to a survey conducted by ICAP, is predicted to grow in the 2019-2020 period, with an average annual growth of 8.5%.

The partners are hoping Greece can become an exhibition hub for the Balkans and Southeast Europe.

Dr Roland Fleck and Peter Ottmann, the two Nürnberg Messe CEOs, said, “We’ve achieved the goals we set in our corporate strategy two whole years ahead of schedule. And that major step forward will give us the momentum we need to approach the next chapter of the NürnbergMesse success story.”

“With its high-profile international tradefairs, Nürnberg Messe has worked its way up into the ranks of the 15 largest tradefair organisers in the world. Our next objective is to make it into the top ten… Greece will play a pivotal role in this in the future.”

Management of the Greece operation will remain with the Greek company’s executives.

Forum SA was established in 1988 and claims to be the largest international tradeshow organiser in Greece, with 23% of the domestic market. Its portfolio includes 8 of the most important international tradeshows taking place in Greece, such as HORECA, FOOD EXPO, ΟΕΝΟΤΕLIA, ΧΕΝΙΑ, ARTOZA, FOODTECH, ATHENS COFFEE FESTIVAL and BIO FESTIVAL.

These shows combined attract 4,000 Greek and international exhibitors and around 350,000 visitors. Forum SA’s four trade magazines are also part of the acquisition.

FORUM SA expects a turnover for the year 2019 of over EUR 17 million.

Germany, Nuernberg & Greece, Agios Dimitrios

Inspired Energy acquires an initial 40 per cent of Ignite Energy

inspired-logo4Inspired Energy plc has acquired an initial 40 per cent share of Ignite Energy Limited

Inspired are paying an initial £5.0 million to acquire the 40 per cent on a debt free, cash free, normalised working capital basis. A further consideration of up to £3.0 million may become payable in cash, subject to the achievement of financial performance targets for the year ending 31 December 2019. The Initial Consideration has been financed from the Inspired’d existing resources, with funding provided by a drawdown of the Group’s £12.5 million acquisition facility with Santander.

Inspired has an option, until 31 July 2021, to acquire the remaining 60 per cent off Ignite Energy. Details of the option agreement are below. Inspired’s Mark Dickinson (CEO) and Paul Connor (FD) will join the board of Ignite, which will consist of five people.

Ignite provides energy management solutions to large multi-site commercial energy users. Services include energy procurement, energy efficiency and optimisation services The business began trading in 2009 and is led by David and Ben Higgins. Headquarted in Wantage, Oxfordshire, Ignite employs 51 people based across 3 locations in the UK.

For the financial year ended 31 December 2018, Ignite had revenues of £12.41 million, profit before tax of £3.08 million and generated operating cash of £1.50 million. Net assets as at 31 December 2018 stood at £4.08 million.

Mark Dickinson, CEO of Inspired said: “We are delighted to conclude our strategic investment in Ignite, a business which is highly complementary to Inspired’s core Corporate Division. The Strategic Investment significantly broadens and accelerates our optimisation service offering. Ignite has proven itself, over many years, to be capable of achieving material improvements to the energy efficiency of its clients. Inspired currently has over 500 clients within the estate and energy intensive segments who meet the Ignite customer profile, and could benefit from the services that Ignite provides.”

OPTION AGREEMENT  

·      Under the Option Agreement, from completion until 31 July 2021, Inspired has an exclusive one-way call option to acquire the outstanding balance of 60 per cent of the issued share capital of Ignite (“Remaining Ignite Shares”).

·      Under the terms of the Option Agreement, Inspired will pay consideration for the Remaining Ignite Shares which equates to an enterprise value of 6.0x earnings before interest, tax, depreciation and amortisation (“EBITDA”) (“Option Consideration”). 

·      The Option Consideration shall be based off a minimum EBITDA of £3.0 million, and at the time of exercising the Option Agreement, an amount of £10.8 million will become payable by Inspired.

·      Should the EBITDA be greater than £3.0 million in either of the scenarios shown below, then additional consideration will become payable by Inspired, being the higher of:

–  6.0x Ignite’s EBITDA for the last 12 months ending on the date of the exercise of the option under the Option Agreement, or;

–  6.0x Ignite’s EBITDA for the financial year ending the year in which the option is exercised under the Option Agreement;

–  Less the £10.8 million already paid on exercise of the option, subject to a maximum EBITDA of £7.0 million.

·      Any  additional consideration due will be payable within 90 days following the end of the financial year in which the option agreement is exercised, Ignite’s financial year end is 31 December.

UK, Kirkham, Lancashire & Wantage, Oxfordshire

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