U.K.-based Clarion Events Acquires PennWell
April 4, 2018
Clarion Events has acquired PennWell, a 108-year-old privately-held events and business-to-business media and marketing services company based in Tulsa, Okla.
Clarion is owned by funds managed by Blackstone, a private equity firm with more than $400 billion in assets under management.
"This deal delivers significant benefits for both companies," said Clarion's Executive Chairman Simon Kimble.
He added, "PennWell's roster of market-leading events strongly enhances Clarion's portfolio. Our global network and depth of resources will further strengthen PennWell's offerings, enhancing opportunities for growth and expansion across North America and globally."
The acquisition is the latest in a series of global acquisitions by Clarion, which includes its 2015 purchase of Urban Expositions, now rebranded as Clarion UX and Hong Kong-based Global Sources.
"Clarion is committed to building a strong and competitive presence in North America,” said Clarion UX CEO Greg Topalian.
He added, “The acquisition of PennWell reflects not only the quality of their portfolio, but also our companies' shared legacy of creating innovative events that demonstrate our continued leadership in this industry.”
With 550 employees, PennWell organizes and manages more than 40 exhibitions and conferences around the world.
The company also has 130 media properties and provides quality content and integrated marketing solutions for industries that include energy, fire and emergency services, dental and industrial technology.
PennWell Vice Chairman Frank T. Lauinger said, "We have been a family-owned business since my great grandfather founded the company 108 years ago, originally to serve the oil and gas industry. Finding the right partner going forward was paramount for our family and for our employees and we are confident Clarion shares our values and will continue the legacy of PennWell across all markets PennWell now serves."
Clarion's portfolio of leading exhibition, conference and media brands, earned the company the "Most Respected Company for 2017" accolade from the UK's Association of Event Organisers.
“Clarion has market-leading brands that are complementary to PennWell's, and an enviable presence across Europe, Asia, Africa and the Middle East,” said PennWell President and CEO Mark Wilmoth.
He added, “Merging with Clarion will enhance our offerings to the worldwide customers of PennWell's diversified portfolio of events, including the POWER-GEN series, DistribuTECH for electricity distribution, and FDIC for the fire market, as well as media brands such as the Oil & Gas Journal."
Six of PennWell’s shows recently landed on the 2017 TSNN Top Trade Shows list: Fire Department Instructors Conference (FDIC) (No. 34), POWER-GEN International (No. 46), DistribuTECH (No. 101), Subsea Tieback (No. 178), HydroVISION International (No. 218) and Strategies in Light (No. 233).
PennWell was represented in this transaction by JEGI (www.jegi.com), an independent investment bank for the global media, information, marketing, software and tech-enabled services sectors.
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.
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