Nielsen Expo Unit's Sale to ONEX Completed; Company Renamed Emerald Expositions
Nielsen Holdings N.V.’s sale of Nielsen Expositions to private equity firm ONEX for $950 million in cash consideration has been completed.
Under the new owner, Nielsen Expositions’ name was changed to Emerald Expositions.
“Onex’ acquisition of our business has given us a partner that will help Emerald pursue new growth opportunities while continuing to deliver exceptional value to our exhibitors and attendees,” said David Loechner, CEO of Emerald Expositions.
Onex Partners III made an equity investment of approximately $350 million, of which Onex’ share was $85 million as a Limited Partner in the Fund.
“We’re excited to work with David and his management team to grow the company through both continued expansion of its existing shows and add-on acquisition opportunities,” said Kosty Gilis, an Onex managing director.
Headquartered in San Juan Capistrano, Calif., Emerald Expositions produces more than 65 tradeshows and conference events per year connecting 335,000-plus buyers and sellers across nine diversified end-markets, including general merchandise, sports, hospitality and retail design, jewelry, photography, decorated apparel, building, healthcare and military.
Ten of those shows placed on the 2012 TSNN Top 250 Trade Show list, with the largest being ASD Las Vegas – Aug. at 683,846 net square feet.
For the year ended Dec. 31, 2012, Nielsen Expositions generated revenues of approximately $183 million, adjusted EBITDA of $97 million and incurred capital expenditures of $2 million on a stand-alone basis.
Nielsen Holding N.V. said the company will be focusing on its Watch and Buy segments.
Brian West, CFO of Nielsen, added, “Divesting the expositions business allows us to focus on these core areas that provide our clients with a comprehensive understanding of consumers while providing more flexibility to return capital to our shareholders over time.”