St. Louis-based Maritz Travel Acquires Experient
One big meetings and events supplier bought another, with St. Louis-based Maritz Travel acquiring Twinsburg, Ohio-based Experient. Terms of the deal were not disclosed.
Maritz Travel is a global leader in providing full-service meeting, event and incentive travel programs to corporate clients, and Experient is a provider of meeting and event services to associations, tradeshows, corporations and the U.S. government.
“As a result of this deal, Maritz Travel will lead the industry in four key areas – corporate, association, tradeshow and strategic meetings management. Coming together this way will fuel our shared objective to grow in the markets we serve,” said David Peckinpaugh, president of Maritz Travel.
He added, “By combining, we will expand the capabilities we bring to clients beyond what either of us might offer independently.”
According to Martiz officials, their company’s end-to-end service delivery model will be enhanced by Experient’s ability to provide additional full and select services, including registration, housing, site sourcing/contract negotiation and lead retrieval.
As a result, the combined companies will be able to tailor services that better align with clients’ specific needs, Maritz officials added.
Clients also will benefit from 12 regional locations and the ability to serve clients across corporate, association, tradeshow and government markets.
“This is a great day for Experient employees and our clients. I’m particularly excited about the cultural fit between Maritz and Experient,” said Jeff Price, CEO of Experient, who played a key part of the acquisition with Maritz.
He added, “Our companiesshare core values, especially our commitment to helping clients achieve better business value by delivering exceptional event experiences for their participants.”
In 2011, the combined impact of Maritz Travel and Experient represented more than $2 billion in industry volume spend and nearly 3 million travelers served.
“Both Maritz Travel and Experient have been stable and innovative forces on behalf of our clients over the challenges of the last few years,” Peckinpaugh said.
He added, “The event industry has had to evolve as a result of a volatile business environment. Spend is returning to pre-recession levels, and together Maritz Travel and Experient are leading the market in delivering the flexibility and range of services organizations need to achieve growing and increasingly aggressive business results.”
As a result of the acquisition, Price will step down, and Experient will operate as a wholly owned subsidiary of Maritz Travel.
“Jeff Price has done a great job of leading Experient to its current market position. As a result, this deal with Maritz Travel represents great promise for both companies, our clients and the industry,” Peckinpaugh said.
He added, “Clients at both Experient and Maritz Travel will continue to experience the stability, breadth of expertise and resources of both companies while tapping into enhanced service offerings.”