Private Equity Firm Blackstone Buys U.K.-based Clarion Events

July 24, 2017

A few years after Providence Equity Partners bought U.K.-based Clarion Events, the trade show company has changed hands again to another private equity firm – Blackstone.

“We are delighted to invest in Clarion and back Chairman Simon Kimble and CEO Russell Wilcox in the company’s next chapter,” said Lionel Assant, head of European Private Equity at Blackstone.

He added, “Clarion’s leading position in its markets combined with its strong management team will enable the company to continue growing both organically and through M&A. Blackstone has a significant track record of investing in media businesses as well as buy and build platforms. We look forward to working together with management to capitalise on its success.”

Clarion hosts 180 events annually, employs nearly 1,000 people and draws more than one million visitors to its exhibitions each year.

According to news reports, the deal was valued at $782 million and other bidders for the company are said to have included U.K.-based Cinven and Xio, a Chinese investment firm.

“We are extremely excited about our new partnership with Blackstone and see a great future going forward,” said Russell Wilcox, Clarion Events’ CEO.

He added, “The management team has enjoyed an immensely productive and successful relationship with Providence, who have been tremendous partners over the last two years.  We have been impressed with Blackstone’s ambition and approach.  With their support and strategic leadership, we will be looking to expand our global platform even further, both through consistent organic growth and the successful integration of acquisitions into the portfolio.”  

Blackstone has been on an acquisition streak of late – buying also International Market Centers – which owns the biennial Las Vegas Market and High Point Markets.

In June, Blackstone also entered into an agreement to buy Hong Kong-based Global Sources that has several sourcing shows, among others.

Clarion Events also has made some acquisitions recently, particularly in the United States when it bought Kennesaw, Ga.-based Urban Expositions last year, which has a portfolio of 37 events serving nine industry sectors.

Urban Exposition’s shows are in the gift, souvenir, apparel, art, aviation, foodservice, Halloween and party, pet and gaming sectors. 

Clarion’s overall portfolio is focused in sectors that include defence, telecom, gaming and oil and gas, to name a few.

Blackstone was advised by bankers at Barclays, while Clarion was advised by Ducanon, HSBC and Moelis.

Andrew Tisdale, managing director at Providence, said: “We are delighted to have partnered with the outstanding team at Clarion.  They have delivered both impressive organic growth and executed a compelling acquisition strategy.”

He added, “Clarion has developed an exceptional entrepreneurial culture, and we feel fortunate to have worked with them so closely.  We believe and fully support their strategy and its ongoing implementation – and are pleased to have the option to participate in Clarion’s future success.”

Providence, which invested in Clarion in 2015, has an option to reinvest a portion of its proceeds from the sale into Clarion.

Add new comment

Partner Voices
  MGM Resorts is renowned for its exceptional service and diverse venue options across Las Vegas, Detroit, Springfield, National Harbor, Biloxi, and Atlantic City, providing flexible spaces for meetings of any size. Beyond these offerings, MGM Resorts distinguishes itself through a strong commitment to social responsibility and sustainability, making it an ideal choice for your next meeting.  At the core of MGM Resorts' company values is its platform, "Focused on What Matters," dedicated to meeting customer needs while advancing socially responsible practices. This commitment is evident in several key areas:  Protecting Natural Resources  MGM Resorts is home to industry-leading recycling, renewable electricity and water conservation programs. Some highlights include a cogeneration power plant at ARIA, producing ultra-efficient electricity; one of America’s largest contiguous rooftop solar arrays atop the convention center at Mandalay Bay; and onsite wells that provide water for the celebrated Fountains of Bellagio, avoiding reliance on precious Colorado River water. These efforts and many more save on natural resources while boosting attendee satisfaction.  Committed to Community  Always striving to be good neighbors, MGM Resorts works to avoid food waste and combat food insecurity with the Feeding Forward program. In partnership with local food banks, they safely divert unserved food to food insecure members of the community. Since 2016, over 5 million meals have been provided, highlighting MGM Resorts' commitment to minimizing food waste and addressing community needs.  MGM Resorts supports clients in their responsible-meetings efforts, not only with efficient venues but also waste-reducing décor and signage; sustainable food and beverage options; and outreach to help planners communicate sustainability efforts to attendees. What’s more, they offer a Mindful Meetings series that puts attendee wellness first—through fitness and mindfulness activities, and in give-back events with local charity organizations.   Fostering Diversity & 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 offers unparalleled service and venue options while standing out for its proactive approach to sustainability and community engagement. Choosing MGM Resorts for your next meeting means aligning with a company that values social responsibility, efficiency, and attendee satisfaction, ensuring a meaningful and impactful event experience.