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
HERE, hosting responsible meetings and caring for our communities are top priorities. Through its 'Focused on What Matters: Embracing Humanity and Protecting the Planet' philosophy, MGM Resorts commits to creating a more sustainable future, while striving to make an impact in the lives of employees, guests, and the communities in which it operates.
Water Stewardship Efforts
MGM Resorts understands the importance of using water efficiently, especially in the desert destination of Las Vegas. Conserving water has always been part of the mission, but MGM Resorts has expanded its ambition into water stewardship.
In 2022, MGM Resorts President and CEO Bill Hornbuckle signed the CEO Water Mandate—a UN Global Compact initiative mobilizing business leaders to advance water stewardship. MGM Resorts International was the first gaming company to take this important step.
MGM Resorts replaced 200,000 square feet of real grass with drought-tolerant landscaping in Las Vegas.
MGM Resorts pledges to reduce water withdrawal intensity by 33% by 2025 and by 35% by 2030.
From 2007-2021, use of more than 5.6 billion gallons of water was avoided because of conservation efforts.
Caring for One Another
MGM Resorts’ Food Donations Program collects and preserves unserved food from conventions held at MGM Resorts properties, then safely donates to food insecure people in the community. Since the program’s launch in 2016, more than 3.7 million meals toward a 2025 goal of 5 million meals have been donated into the community. Donations include:
Unserved perishable prepared foods from events
Perishable unprepared food from MGM Resorts’ kitchens
Nonperishable food items from minibars and warehouses
The collaboration with Southern Nevada’s primary food bank, Three Square, has developed the infrastructure needed to safely collect, transport, and store food from MGM Resorts properties in Las Vegas, reducing food waste while serving the community.
Fostering Diversity and Inclusion
To MGM Resorts, a diverse and talented workforce is essential to success. By cultivating innovative strategies that consider multiple perspectives and viewpoints, the company creates an inclusive workplace culture that benefits its employees and community. MGM Resorts takes pride in being a welcoming home for veterans, individuals with disabilities, people from diverse backgrounds, LGBTQ+ community members, and more. This commitment to inclusion is reflected in the company's recruitment and hiring practices and its social responsibility initiatives. From the workplace to the community, MGM Resorts' commitment to diversity, equity and inclusion remains unwavering, and its efforts continue to create a more equitable and sustainable world for all.
MGM Resorts understands its responsibility to contribute to the social and economic progress of the communities in which it operates. HERE, we embrace humanity.
Add new comment