Providence exhibits £300m bid for London Vet Show owner

Providence EquityProvidence Equity Partners , the private equity firm behind Ambassador Theatre Group, is in talks to buy exhibitions group CloserStill Media for about £300m, according to a report by Sky News.

CloserStill is being sold by Inflexion, another buyout firm, which backed the company in 2015. A significant proportion of CloserStill’s revenues come from outside the UK, with exhibitions such as Dentiste Expo in Paris and Cloud Expo Asia in Singapore among its events. The deal with Providence, which could be signed within weeks, follows the investor’s £600m sale of Clarion to Blackstone last year.

 

USA, Providence, RI & UK, London

Access Intelligence acquires P3C Media

Access IntelligenceMedia and information company Access Intelligence has acquired P3C Media, owner of The Public-Private Partnership (P3) Conference and Expo, the leading education and networking event for P3 leaders from government and industry to discuss infrastructure challenges and innovations in project delivery, procurement, life cycle asset management and solutions. The terms of the deal were not disclosed.

Founded in 2012 by P3C Media President Eric Iravani, the company’s premier events attract senior representatives from government, higher education institutions, and leading firms in the global construction and financial markets. Today, P3C Media has several vertical events that surround their flagship Public-Private Partnership Conference, including: The P3 Water Summit, The P3 Airport Summit, The P3 Higher Education Summit and The P3 Federal Conference.

Don Pazour, CEO of Access Intelligence, said, “P3C Media has been at the forefront of the burgeoning private-public partnership space for many years and has firmly established itself as the market leader for bringing together top government, industry and financial leaders across several verticals in the P3 marketplace. We are delighted to add the P3C Media brand to our company’s portfolio, to welcome an extremely talented team into our family, and to fast-track our leadership position in the P3 marketplace.”

Upcoming P3C Media events include The P3 Federal Conference Nov. 27-28 in Washington, DC and The Public-Private Conference & Expo, March 4-6 in Dallas, TX. The Public-Private Partnership Conference & Expo is one of the largest gatherings of government and construction professionals in the United States.

USA, Rockville, MD & New York, NY

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Emerald Expositions acquires Total Tech Summit for US$28M

Emerald ExpositionsUS event producer Emerald Expositions has announced the acquisition of leading technology event Total Tech Summit and a group of complementary technology intelligence brands from EH Media for approximately $28 million in cash.

The acquired brands have delivered impressive organic growth in recent years, driven by increases in digital revenues, now representing approximately half of total revenues, as well as solid event revenue growth. These brands are strategically aligned with Emerald’s CEDIA Expo and Connecting Point Marketing Group (CPMG) businesses, and include:

Total Tech Summit: a premier hosted-buyer event serving the residential, commercial and security integrator markets;

CEPro: a leading media brand for custom technology integrators in the residential market and the media partner of Emerald’s CEDIA Expo trade show;

Commercial Integrator: a top information source for commercial technology integrators serving small and midsize businesses;

Security Sales & Integration: a leading media brand for residential and commercial security installation contractors; and

Campus Safety: a leading media brand serving security professionals responsible for schools and academic campuses with several events and intelligence products.

David Loechner, Emerald’s president and CEO, commented, “We are thrilled to welcome the EH Media team and their highly valuable brands and assets to Emerald. Ken Moyes has built an impressive group of interconnected, technology-oriented brands that are focused on the integration of audio, video, communications, IT, security and energy management products into buildings of all types. We see a tremendous opportunity to deliver continued strong organic growth in these businesses while also achieving synergies as we integrate these brands and assets into Emerald. We believe that this acquisition, once fully integrated, will not only strengthen our existing trade shows but also expand both their relevance and growth profile in several of our key end markets.”

USA, San Juan Capistrano, CA & Framingham, MA

UBM acquires 75% stake in ECMI ITE Asia for £2.8M

UBMUBMMG Holdings, a subsidiary of UBM, which recently became part of the Informa Group, has acquired ITE Group’s 75 per cent stake in Malaysia-based ECMI ITE Asia for a cash consideration of MYR 15m (approx. £2.8 million). The sale forms part of ITE’s Transformation and Growth (TAG) strategy.

ECMI runs the Cosmobeauté series of beauty trade exhibitions in Malaysia, Indonesia and Vietnam, and the biennial Lab series of Scientific Instrument and Laboratory Equipment trade exhibitions in Malaysia and Indonesia.

ITE acquired a 50 per cent stake in ECMI in 2013. Under the terms of an existing arrangement with ECMI’s founder shareholders CP Saw and WP Cheong, the organiser acquired an additional 25 per cent stake in ECMI on 18 June 2018, taking its total shareholding to 75 per cent. With the acquisition by UBM, ITE has disposed of its entire 75 per cent holding in ECMI. The proceeds will be reinvested into the Group.

In the year to 30 September 2017 (which excludes the biennial Lab exhibitions), ECMI had gross assets of MYR 13.2 million (£2.5 million), reported a turnover of MYR 9.8 million (£1.8 million) and a loss before tax of MYR 0.4 million (£0.07 million). In ITE’s consolidated financial statements for the same period, ITE recognised a loss of MYR 0.13 million (£0.03 million) in respect of ECMI, presented within ‘share of results of associates and joint ventures’.

Mark Shashoua, CEO of ITE Group, said, “A key element of our TAG Programme is managing our portfolio of events, and this transaction marks a further step in delivering this strategy. We are pleased to have found a supportive Malaysia-based partner for ECMI’s events which can ensure the investment required for ECMI’s continued success.”

UK, London & Malaysia, Selangor

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UBM acquires Expomed and live healthcare events in Latin America

UBMUBM has acquired annual healthcare exhibition ExpoMed from LIVEMED in Mexico and Live Healthcare in Brazil from founders Dr. Vitor Assentuno and Dr. Raphael Gordilho. The terms of the transactions were not disclosed.

ExpoMed connects vendors of medical equipment to buyers and executives from private and public hospitals, clinics and distributors. Held each June in Mexico City, the show is considered the must-attend healthcare event in Mexico. The most recent edition of ExpoMed took place 6-8 June 2018 at the World Trade Center Mexico City, where it drew in more than 8,000 buyers and 342 exhibition companies spanning a more than 44,000 square foot showfloor.

Based in Brazil, Live Healthcare is an event platform that connects major healthcare players to inspire industry change and empower leaders. Live brings with it the Saude Business Forum, which focuses on executive networking and one-on-one meetings for healthcare CEOs and innovative vendors, as well as the Healthcare Innovation Show, a technology and innovation exhibition attended by senior healthcare executives. Live also runs the healthcare portal saudebusiness.com, which drives database and community engagement for the events.

Scott Schulman, CEO of UBM Americas, said, “Healthcare is a strategic vertical for UBM Americas, particularly in Mexico and Brazil, where public and private healthcare spending and service markets are growing rapidly. With ExpoMed’s leading position in Mexico and Live Healthcare’s complementary fit with UBM Brazil’s existing Hospitalar event, we are confident that these two bolt-on acquisitions will greatly contribute to the long-term growth of our healthcare portfolio – and our position as a leader in the Latin America healthcare market.”

Jaime Salazar Figueroa, director general and managing director of UBM México, said, “ExpoMed is by far the largest healthcare event in Mexico and adds another market-leading brand to our portfolio. The acquisition gives us the opportunity to serve the second-largest medical device market in Latin America and to pursue synergies with our healthcare portfolio in Brazil.”

UK, London, Mexico, Mexico City & Brasil, Sao Paulo

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ITE to acquire Ascential Events in £300M deal

ITE GroupITE Group plc has released its interim results and proposed the acquisition of seven event brands from Ascential Events Ltd for £300 million.

The Ascential Exhibitions Business, which organises market-leading exhibitions that bring business communities together to connect and trade, includes two global industry-leading exhibitions brands, Bett and CWIEME, and a number of market-leading UK exhibitions brands such as the Spring and Autumn Fairs and Pure. In the financial year ended 31 December 2017, these brands generated revenues of £77.5 million and EBITDA of £24.0 million.

The move comes as ITE Group releases its interim results, showing the group’s revenues grew at eight per cent on a like-for-like basis, driven by its Transformation and Growth (TAG) programme. For the six months to 31 March 2018 revenue for the group was £75.4m.

Mark Shashoua, CEO of ITE Group plc, said, “These events are well known to us, the acquisition is in line with our product-led acquisition strategy and gives us the benefit of a more balanced portfolio by geography and product. It also adds two more global brands in BETT and CWIEME and is expected to be earnings enhancing in 2019, our first full financial year of ownership. The combination of good progress on TAG and the proposed acquisition of Ascential Events Limited represent the significant steps for ITE in realising its vision of creating the world’s leading portfolio of content-driven, must-attend events that deliver an outstanding experience and ROI for our customers.”

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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