Fusion Corporate Partners are pleased to announce the sale on behalf of its client Global Pacific & Partners (GPP) of a 50.1% shareholding in their worldwide oil & gas event portfolio to ITE Group Plc, a major London-listed international events company with significant capacity in global oil and gas.
The portfolio of events includes GPP’s market leading Africa Oil Week (AOW) conference held in Cape Town for the last 21 years. AOW incorporates Africa Upsteam and the Africa Independence Forum, other events in the portfolio include established oil & gas events in Africa, Asia and Latin America.
The cash consideration paid on completion for 50.1% is £16 million, with put and call options in place over a maximum of ten years, to enable ITE to acquire the remainder of the shares. The overall consideration to be capped at a maximum of £50 million.
Fusion acted exclusively for the shareholders of GPP. The shareholder founders and existing organisers of the event, will remain with the portfolio for the next few years at least.
GPP Chairman, Dr Duncan Clarke and CEO, Babette van Gessel said “We are all delighted to join forces with ITE to work together on developing the events in our conference portfolio. ITE has significant capacity and an excellent reputation in global oil and gas to carry forward the growth achieved over the last two decades for our portfolio in Africa, Asia and Latin America.”
ITE Oil &Gas Portfolio Director, Daniel Read said “I am very pleased with the acquisition of a majority stake in a series of events that includes Africa Oil Week/Upstream Africa. It is the jewel in the crown of GPPs portfolio and takes our services to a number of new territories. We have a global network of staff, exhibitions and conferences that will promote Africa Oil Week to a huge worldwide audience. The scale of the industry in Africa and its potential for future growth is enormous. It’s great to know that we will be involved in keeping the leading stakeholders in the continent’s energy community connected and informed. I’m also looking forward to working closely with the team at GPP who have created and nurtured the growth of what has become the leading event for the industry in Africa.”
Paul Slight, Director at Fusion, said “We were delighted to have worked with Duncan Clarke and Babette van Gessel and the rest of the team at GPP. The Africa Oil Week/Africa Upstream Conference is the longest-running and most prominent event held worldwide for Africa’s fast-growing oil, gas, LNG and energy industry. It will be an excellent fit with ITE’s events portfolio.”
The 22nd Africa Oil Week/Africa Upstream Conference, with the 13th Africa Independents Forum, takes place in Cape Town, South Africa, from 26th-30th October 2015 at the CTICC, with over 100 speakers, 150+ Exhibitors, and around 1,600 delegates.
UK, London & Africa, Cape Town & The Netherlands, The Hague
Other Fusion Deals:
Media & Business Information
- Law Business Research sold to Bowmark Capital
- NHiS sold to Wilmington Group
- CRU Group acquires Fertecon Research Centre
- Kingsman SA, the Switzerland-based provider of price information and analytics for the global sugar and biofuels markets, sold to Platts
- E-consultancy.com sold to Centaur Media plc
- Fertilizer market information and analysis business Fertecon sold to Informa Group
- FMB Consultants sold to Argus Media
- www.Bit-Tech.net, the leading PC customisation online community and review site, sold to Dennis Publishing
- DMG Information sold Hobsons, its pan-European corporate recruitment print, web, event and market research operations, to Group GTI
- Hedgefund Intelligence, global B2B newsletter publishers and online data provider to the hedgefund sector, sold to Euromoney Institutional Investor
- www.digitalspy.co.uk the UK’s largest independent entertainment news website sold to Hachette Filipacchi UK
- www.CarDesignNews.com, a leading international B2B community website sold to Ultima Media
- MyHobbyStore.co.uk has acquired Model Collector and Stamp Magazine from IPC Media
- Trusted Reviews the UK’s premier electronic product review website sold to IPC Media
- Kable Ltd, the B2B online market intelligence provider and event organiser for the ICT sector sold to Guardian News & Media
- Petrolheads, the leading sports car enthusiast community and classified website, sold to Haymarket Publishing Group
- Visordown Ltd, owner of the leading UK motorcyclist community website www.visordown.com sold to Magicalia Ltd
- Euromoney Institutional Investor PLC sold Raven Fox Ltd, publisher of B2B journal Duty Free News to The Metroplolis Group
- Magicalia, the leading consumer special interest community website publisher, sold to Exponent Private Equity
- Euromoney Institutional Investor PLC sold Atalink Ltd, a specialist contract publisher, to Ten Alps PLC
- Global Professional Media Ltd, publisher of leading B2B weekly Legal Week, sold to Incisive Media PLC
Business Support Services and Energy & Environmental Services
- Energy specialist Utilyx sold to MITIE Group
- Utility Masters Limited sold to M&C Energy Group
- Encore International sold to McKinnon & Clarke
- John Hall Associates, the leading supplier of Energy market intelligence and procurement services, sold to EnergyQuote
- Euromoney Institutional Investor PLC sold Energy Information Centre Ltd, an energy intelligence provider, to Broadfern Partners
Exhibitions & Conferences
- Global Grain Geneva and Global Grain Asia, sold to Euromoney Institutional Investor
- Carson Systems sold to Wellesley Information Services
- eLitigation business Legal Inc is acquired by Grant Thornton
- UKIP Media & Events sold its aviation exhibition division, incorporating Aircraft Interiors Expo, to Reed Exhibitions
- Telcap Ltd, a leading B2B events and publshing business, sold to Euromoney Institutional Investor Plc
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