UBM Buys Allworld Exhibitions for $485 Million
December 13, 2016
U.K.-based UBM bought Allworld Exhibitions, a privately-owned Asian exhibitions business operating 51 tradeshows in 11 countries and across nine industry sectors, for $485 million.
Allworld generated revenues of $97.2 million and EBITDA of $37.6 million (38.7 percent margin) during the 12 months ended 30 June 2016.
“The acquisition of Allworld is wholly in line with our Events First strategy and represents an exceptional opportunity to accelerate growth by investing in a high-quality events business,” said Tim Cobbold, UMB’s CEO.
He added, “In so doing, we cement our position as the leading events business in Asia and achieve the No. 1 position in the fast-growing ASEAN region. We see excellent opportunities to accelerate organic growth in the business.”
Allworld is a pure-play portfolio of large, high-margin events in which 90 percent of revenues are generated from 28 major events. The company also has a consistent record of high organic growth, with 7.3 percent revenue CAGR during the last 10 years.
According to UBM officials, Allworld provides UBM with entry into the Middle East and fits well with UBM’s existing portfolio – particularly in Food & Hospitality, Packaging and Manufacturing – with entry into Oil & Gas.
In addition, there is significant opportunity to accelerate growth through operational initiatives and application of Events First best practices, they added.
Overall, the acquisition, is attractive financially because it is expected to enhance earnings in 2017, have return on investment to exceed cost of capital from 2019 and be fully deb- funded with new bridge facility
“Allworld’s management and employees bring tremendous experience and expertise to UBM, and I look forward to working with them to realise the growth potential of the combined business,” Cobbold said.
Partner Voices
Dallas already boasts 35,000 hotel rooms, award-winning global cuisine, and a walkable downtown. But we are just getting started.
Visit Dallas is thrilled to announce that the city of Dallas is doubling down with a massive new convention center and entertainment district. Featuring 800,000 square feet of exhibit area, 260,000 square feet of meeting rooms, and 170,000 square feet of ballroom. The center will connect business travelers with dining and shopping options in the popular Cedars District means more places to get down to business, and even more ways to unwind.
“Dallas is already a great meetings and conventions destination, with the accessibility of two major airports, affordable labor, and an outstanding hotel product,” said D. Bradley Kent, Visit Dallas senior vice president and chief sales officer. “The new center and Convention Center District will enhance Dallas’ competitive position and are exactly what our customers’ need and have been asking for."
What’s New – AT&T Discovery District
Located in the heart of Downtown Dallas, this new district on the AT&T corporate campus is tailor-made for groups of all sizes. It boasts a multi-sensory experience, including outdoor event space, the AT&T Theater, and multiple dining outlets including JAXON Beer Garden and The Exchange, a bustling food hall.
Hotels Coming Soon
Names like the JW Marriott (Downtown), lnterContinental Dallas (Uptown), and Hotel Swexan (Uptown) are adding luxury amenities and bountiful event spaces. The projects will debut in 2023 and beyond.
JW Marriott
This new, 15-story, 283-room hotel will open in the heart of the city’s downtown Arts District this year. The property features a 25,000-square-foot grand ballroom, as well as a spa, restaurant, lobby bar, fitness center, and a rooftop pool deck and bar.
InterContinental Dallas
Located in Cityplace Tower in Uptown, InterContinental Dallas will feature sweeping panoramic views of the Dallas skyline. Guests will enjoy spacious, high-end rooms and amenities, including more than 21,000 square feet of event space.
Hotel Swexan
Hotel Swexan, a new, 22-story luxury property, is rising in Uptown’s Harwood District and will make its mark on the Dallas skyline. Opening this year, it is a sculptural building with cantilevered upper floors, as well as a 75-foot rooftop infinity-edge swimming pool and a hidden underground lounge.
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