Informa Acquires MMPI Canada for $53 Million; Posts Half-year Earnings Losses
July 25, 2012
The mergers and acquisitions market in the trade show industry is warming up after a few years of quiet times with the recent purchase of Vornado Realty Trust’s MMPI Canada by Informa for $53 million.
The acquisition is a bright note in what has been a challenging period for Informa with some of it events businesses in Europe struggling.
MMPI Canada produces 55 trade shows, conferences and consumer shows on an annual basis, and Informa organizes more than 8,500 worldwide conferences and courses annually.
The Jordan, Edmiston Group, Inc., based in New York City, represented MMPI Canada in the transaction.
“There was considerable interest from both strategic and financial buyers reflecting the leading market position of MMPI Canada, and the quality of its management,” said Richard Mead, managing director of JEGI.
He added, “This underscores the ongoing strength of the events model in B2B and B2C marketing.”
Informa, with a head office in Switzerland, has more than 150 offices in 43-plus countries and employs 8,500 staff around the world.
“With specialization in construction, real estate, interior design and furnishing, the business (MMPI Canada) fits well with our sector strengths, and we are confident about the opportunities that exist to grow the business within Informa by launching new shows or geo-cloning existing ones into new markets,” officials said.
Informa also released its half-year results July 25 and the company posted a loss of £41.9 million ($65 million), compared with a net income of £55.5 million from the same period last year.
In addition, because of the continuing European debt crisis, it has been forced to sell its event businesses in Hungary, Austria, the Czech Republic and parts of Germany, according to news reports.
Despite the setbacks, Informa’s CEO Peter Rigby said when the earnings results were released, “We are encouraged by the product launches coming in the second half of the year as well as our recent Canadian acquisition. We are making good progress on a number of growth initiatives including geographic expansion, across Informa which gives the Board confidence in meeting its expectations for the full year and the Group’s future prospects.”
Other recent M&A deals in the trade show industry include Freeman’s sale of Fern Exposition & Event Services to Fern’s COO Aaron Bludworth and an investment group.
Wicks Group also recently bought Northstar Travel Media from private equity owner BV Investment Partners, and St. Louis-based Maritz Travel also acquired Twinsburg, Ohio-based Experient in April.
Partner Voices
Dallas already boasts 35,000 hotel rooms, award-winning global cuisine, and a walkable downtown. But we are just getting started.
Visit Dallas is thrilled to announce that the city of Dallas is doubling down with a massive new convention center and entertainment district. Featuring 800,000 square feet of exhibit area, 260,000 square feet of meeting rooms, and 170,000 square feet of ballroom. The center will connect business travelers with dining and shopping options in the popular Cedars District means more places to get down to business, and even more ways to unwind.
“Dallas is already a great meetings and conventions destination, with the accessibility of two major airports, affordable labor, and an outstanding hotel product,” said D. Bradley Kent, Visit Dallas senior vice president and chief sales officer. “The new center and Convention Center District will enhance Dallas’ competitive position and are exactly what our customers’ need and have been asking for."
What’s New – AT&T Discovery District
Located in the heart of Downtown Dallas, this new district on the AT&T corporate campus is tailor-made for groups of all sizes. It boasts a multi-sensory experience, including outdoor event space, the AT&T Theater, and multiple dining outlets including JAXON Beer Garden and The Exchange, a bustling food hall.
Hotels Coming Soon
Names like the JW Marriott (Downtown), lnterContinental Dallas (Uptown), and Hotel Swexan (Uptown) are adding luxury amenities and bountiful event spaces. The projects will debut in 2023 and beyond.
JW Marriott
This new, 15-story, 283-room hotel will open in the heart of the city’s downtown Arts District this year. The property features a 25,000-square-foot grand ballroom, as well as a spa, restaurant, lobby bar, fitness center, and a rooftop pool deck and bar.
InterContinental Dallas
Located in Cityplace Tower in Uptown, InterContinental Dallas will feature sweeping panoramic views of the Dallas skyline. Guests will enjoy spacious, high-end rooms and amenities, including more than 21,000 square feet of event space.
Hotel Swexan
Hotel Swexan, a new, 22-story luxury property, is rising in Uptown’s Harwood District and will make its mark on the Dallas skyline. Opening this year, it is a sculptural building with cantilevered upper floors, as well as a 75-foot rooftop infinity-edge swimming pool and a hidden underground lounge.
Add new comment