AC Business Media Sells B2B Portfolio; LDC Acquires FBIC Events
Just before the long holiday weekend in the U.S., two companies made portfolio sales that covered several conferences, a trade show and digital products.
AC Business Media sold its business-to-business portfolio that was comprised mainly of publications and one trade show to Florida-based private equity firm Boyne Capital.
The assets included in the sale are the following 12 publications, the DHI ConNextions trade show for the non-residential door and hardware industry, one digital marketing services brand, several related websites and digital products.
“This acquisition for Boyne Capital is a great platform in the heavy construction, commercial building and marketing sectors within the B2B industry. This platform will set the stage for future growth with acquisitions in these industries and other new sectors,” said Nick Curci, president of Corporate Solutions.
He added, “Boyne Capital was the winning bidder after careful consideration of several other offers by other strategic and financial buyers. AC Business Media did an exceptional job growing this business over the past four years both organically and with strategic acquisitions.”
Corporate Solutions represented Cygnus Business Media in the sale of the heavy construction properties to AC Business Media four years ago when AC Business Media was formed.
Corporate Solutions represented the sellers of the DHI ConNextions trade show and DMN to AC Business Media also one year ago.
Another pre-Labor Day sale was U.K.-based mid-market private equity investor LDC backed the management buyout of global events company FC Business Intelligence (FCBI). The value of the transaction was undisclosed.
FCBI delivers conference and exhibition events with a focus on providing thought leadership in a diverse range of sectors that are facing both challenges and opportunities from technological and strategic innovation including the energy, insurance, pharmaceuticals transportation and travel sectors. Its offering is designed to help senior business professionals stay at the forefront of change through insight sharing and networking with peers.
The investment will enable FCBI to target further organic growth as it plans to increase the scale of its events and expand into new markets, including Asia.
The business also will look to make a number of acquisitions both at home and overseas.
With 130 employees based at its head office in Shoreditch, FCBI operates globally with 65 percent of the company’s annual turnover of £30m generated in the U.S., 20 percent in continental Europe and 10 percent in the UK.
LDC is backing FCBI’s existing management team, led by CEO Piers Latimer. The investment marks an exit for its original founders.
Latimer said: “We have established a worldwide reputation for developing high-quality strategic events that deliver the insights business leaders need to direct their companies and shape their markets. With demand for our services only set to increase, we’re in a great position to accelerate growth. Bringing on board an experienced and well-connected investment partner in LDC felt right at this juncture and we’re excited to be moving forward with their support”.
David Andrews, investment director at LDC in London, added: “Piers and his management team have overseen a remarkable period of growth for FCBI thanks to their focus on content-rich, delegate-led events that deliver real value to more than 9,000 attendees and 1,400 sponsors and exhibitors each year. The opportunity now is for the management team to strengthen and extend this growth and we’re looking forward to supporting them on this journey.”
Banking facilities were provided by Muzinich & Co. Limited and HSBC. LDC was advised by Houlihan Lokey, Plural Strategy Group, Eversheds Sutherland and BDO.
FCBI was advised by JEGI | CLARITY and CMS.