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
Overview:
The award-winning Orange County Convention Center (OCCC) goes the extra mile to make every day extraordinary by offering customer service excellence and industry-leading partnerships. From their dedicated in-house Rigging team to their robust Exhibitor Services, The Center of Hospitality brings your imagination to life by helping you host unforgettable meetings and events. With more than 2 million square feet of exhibit space, world-class services and a dream destination, we are committed to making even the most ambitious conventions a reality.
In October 2023, the Orange County Board of County Commissioners voted to approve allocating Tourist Development Tax funding for the $560 million Phase 5A completion of the OCCC. The Convention Way Grand Concourse project will include enhancements to the North-South Building, featuring an additional 60,000 square feet of meeting space, an 80,000- square-foot ballroom and new entry to the North-South Building along Convention Way.
“We are thrilled to begin work on completing our North-South Building which will allow us to meet the growing needs of our clients,” said OCCC Executive Director Mark Tester. “As an economic driver for the community, this project will provide the Center with connectivity and meeting space to host more events and continue to infuse the local economy with new money and expanding business opportunities.”
Amenities:
The Center of Hospitality goes above and beyond by offering world-class customer service and industry-leading partnerships. From the largest convention center Wi-Fi network to custom LAN/WAN design, the Center takes pride in enhancing exhibitor and customer experience.
The OCCC is the exclusive provider of electricity (24-hour power at no additional cost), aerial rigging and lighting, water, natural gas and propane, compressed air, and cable TV services. Convenience
The Center is at the epicenter of the destination, with an abundance of hotels, restaurants, and attractions within walking distance. Pedestrian bridges connect both buildings to more than 5,200 rooms and is within a 15-minute drive from the Orlando International Airport. The convenience of the location goes hand-in-hand with top notch service to help meet an event’s every need.
Gold Key Members
The OCCC’s Gold Key Members represent the best of the best when it comes to exceptional service and exclusive benefits for clients, exhibitors and guests. The Center’s Gold Key memberships with Universal Orlando Resort, SeaWorld Orlando and Walt Disney World greatly enhance meeting planner and attendee experiences offering world-renowned venues, immersive experiences and creative resources for their events.
OCCC Events:
This fiscal year, the OCCC is projected to host 168 events, 1.7 million attendees, and $2.9 billion in economic impact.
The Center’s top five events during their 2022-2023 fiscal year included:
AAU Jr. National Volleyball Championships 2023
200,000 Attendees
$257 Million in Economic Impact
MEGACON 2023
160,000 Attendees
$205 Million in Economic Impact
Open Championship Series 2023
69,500 Attendees
$89 Million in Economic Impact
Sunshine Classic 2023
42,000 Attendees
$54 Million in Economic Impact
Premiere Orlando 2023
42,000 Attendees
$108 Million in Economic Impact
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