Phoenix invests in Capital Economics

Phoenix Equity PartnersPrivate equity firm Phoenix Equity Partners has acquired a controlling stake in independent research company Capital Economics. Phoenix’s investment, which values the business at circa £95m, will be made alongside the existing management team and shareholders. Roger Bootle will retain a significant stake in the business.

Capital Economics is one of the leading independent macro-economic research companies in the world. Their team of more than 60 experienced economists provide award-winning macro-economic, financial markets and sectoral analysis, forecasts and consultancy from offices in London, New York, Toronto, Singapore and Sydney. The business provides research subscriptions, data and events to approximately 1,500 global institutions.

Capital Economics’ existing backer LDC, the private equity arm of Lloyds Banking Group, will exit its minority stake. Since their investment in October 2014, the business has grown revenues by 30% to over £22.5m in its latest financial year, launched several new services and opened new offices in New York and Sydney. It has expanded the team by 30% to over 140 employees across its five locations.

The investment by Phoenix will allow Capital Economics to continue to accelerate its growth. Phoenix’s support will enable investments in new services and in technology to enhance and personalise client delivery. A number of potential acquisitions have also been identified.

Chris Neale, Partner at Phoenix, said: ‘Capital Economics is an exceptional business with outstanding economists and staff, and an unrivalled reputation for macro-economic insight. It has grown every year since inception, building up a global base of loyal repeat clients. Demand for high quality, independent research continues to increase and we are excited about the future potential of the business. We look forward to working with Bob and the team to help accelerate growth over the coming years.’

UK, London

Euromoney acquires European investment industry survey Extel

EuromoneyEuromoney Institutional Investor PLC, the international business information and events group, has acquired 100% of the business and assets of Extel from WeConvene. Extel will be integrated into Euromoney’s Institutional Investor Research business which is well known for its sell-side analyst and corporate IR performance research and rankings, and strengthens further Institutional Investor’s asset management offering. The terms of the transaction were not disclosed.

Extel runs the annual independent survey of quality across the European equities investment community. The Extel Survey began in 1974 and in 2017 over 15,500 investment professionals cast 1.1 million votes across the investment industry, providing a huge dataset to help clients analyse and drive their market understanding.

The acquisition of Extel fits within Euromoney’s strategy of investing in its main themes, specifically asset management. Extel is deeply embedded in the equities investment community and its complementary data sets and highly valued analytics and insights will support the transition of Institutional Investor to a next generation 3.0 business model.

Will Rowlands-Rees, MD of Institutional Investor Research, said: “Although a small business, Extel has a strong reputation in the European market, and is highly complementary to our existing Institutional Investor Research offerings. By integrating these businesses, we will create a unique bulge bracket through domestic broker view of research product evaluation in the European market at a time of tremendous market change driven by MiFID II. I look forward to leveraging our shared expertise and knowledge, and partners in the investment community to build a stronger and broader set of capabilities across our portfolio of products to help with these challenges.”

UK, London

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Bauer Media acquires UK fishing event The Big One

Bauer Media GroupThe Bauer Media Group has acquired the UK’s biggest fishing show, The Big One. The terms of the transaction were not disclosed.

The Big One is held annually each spring in Farnborough and attracts almost 20,000 enthusiastic anglers. The acquisition complements and strengthens Bauer’s angling media business which already interacts with 600,000 anglers each month through its portfolio of magazines, digital editions, social media and websites.

The Big One will form part of Bauer’s growing specialist events portfolio, which includes the London Motorcycle Show, the MCN Festival and Your Horse Live, already attended by over 100,000 visitors each year.

Vince Davies, who launched and owns the event, will continue to work for Bauer as Event Director, building on the great success he has had growing the show since it launched.

Patrick Horton, Managing Director, Sport & Entertainment at Bauer Media, said, “I’m delighted we are acquiring the biggest event in angling and equally delighted that Vince will continue to work with Bauer Media on the show. It’s a brilliant event that celebrates the best that fishing has to offer, and has great potential in the new permanent event space in Farnborough. We look forward to putting the weight of Bauer’s angling media behind the event to make it bigger and better.”

Germany, Hamburg & UK, Ashford, Middlesex

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Hearst UK acquires wellbeing events and watch brands from Telegraph Media Group

Hearst UKPublisher Hearst UK has agreed a deal with Telegraph Events to acquire Be:FIT, the UK’s largest and leading fitness and wellbeing festival for women, Salon QP, the UK’s premier luxury watch fair and QP Magazine, the UK’s leading luxury watch magazine. The deal is part of Hearst UK’s strategic commitment to grow and diversify revenues. The terms of the transaction were not disclosed.

Be:FIT, Salon QP and QP Magazine will join a portfolio of brands and events targeting consumers interested in luxury and health & wellness from titles such as Women’s Health, Men’s Health, Esquire, Harper’s Bazaar and ELLE to events such as Esquire Townhouse, Cosmopolitan Self Made and Country Living Fairs.

Victoria Archbold, Managing Director of Events and Sponsorship at Hearst Live, said: “This deal plays to the strengths of our brands and is a perfect fit for our publishing and events business. We are seeing unprecedented growth in experiential events – our attendance levels doubled last year primarily because our consumers are so engaged in our brands and those we choose to work with. From a commercial perspective, we have created successful collaborations with a number of like-minded brands that have delivered a great return on investment. Expanding our events portfolio will enable us to create more of these brand partnership platforms.”

UK, London

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Clarion Events completes merger with Global Sources

ClarionLondon-based Clarion Events, one of the world’s leading independent events organisers, has completed a merger with Global Sources, a leading Asian exhibitions and online B2B marketplace operator based in Hong Kong. Funds managed by Blackstone will control the combined group. Terms of the transaction were not disclosed.

Combining both market-leaders will create one of the largest privately-owned exhibitions businesses globally, with substantial scale across Asia, Europe and North America, organising 200 events per year and generating more than £300m of Revenues. The combined group will be led by the existing Clarion management team under Chief Executive Officer Russell Wilcox and Chairman Simon Kimble. The new group will continue to operate under the name Clarion Events, with the Global Sources brand identity retained in the Asian region.

Commenting on the announcement, Russell Wilcox, CEO of Clarion Events, said: “This merger marks an important milestone for both companies as we embark on an exciting new chapter. With the support of Blackstone, the new Group is well positioned to take advantage of our combined scale and global platform. We look forward to working with the Global Sources management, and believe that the remarkable expertise and capability of the combined company offers a very strong opportunity for future growth.”

UK, London & Hong Kong

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Terrapinn acquires Science Media Partners

terrapinnTerrapinn, the global events company, has acquired Science Media Partners, an international events and publishing company based in the UK and focused on next-generation government, citizen and consumer-based identity solutions. The terms of the transaction were not disclosed.

SMP’s portfolio of products includes the world-leading events – SDW 2018 and connect:ID – as well as the highly-respected news and information web portals – http://www.planetbiometrics.com and www.securitydocumentworld.com .

Terrapinn’s CEO, Greg Hitchen, said: “Science Media Partners fits really well with our enterprise technology portfolio and our style of event. There is also a strong cultural and entrepreneurial fit. And the events are world-class.”

UK, London

 

IMG acquires Exhibitions International

IMGIMG, subsidiary of US talent agency Endeavor, has acquired the global museum exhibition producer Exhibitions International, as well as its portfolio of events including King Tut: Treasures of the Golden Pharaoh (on which the two companies had previously collaborated), Pompeii: The Exhibition and Mummies of the World.

Under the terms of the acquisition, Exhibitions International will sit within IMG’s events division with arts and entertainment. Furthermore, John Norman, Exhibitions International’s founder and president, will become managing director of exhibitions for IMG Events. Norman’s team will also join IMG Events. Financial details of the transaction were not disclosed.

Stephen Flint Wood, SVP and managing director, Arts & Entertainment Events at IMG, said, “I had the pleasure of collaborating with John Norman when we staged Tutankhamun together in Australia in 2011. I quickly realised why John was regarded as the best in the business and was therefore delighted when we had the opportunity for him and the rest of his team to become part of the IMG family. As managing director, John will have the full support and resources of the global IMG network, and we in turn have a new opportunity to expand our world-class events offering.”

USA, New York, NY

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