News this week: London-headquartered
Clarion Events was recently acquired by global asset management firm Providence Equity. According to media reports, the deal was announced to Clarion staff on 9th
January and worth more than US$303 million.
Other bidders in the acquisition reportedly included ITE Group, Penton Media, Charterhouse
Capital Partners and Carlyle Group LP. Providence Equity is a
leading global investor specialising in media, communications, education and
information industries. The asset management firm is expected to invest heavily
in Clarion to begin an aggressive expansion strategy that will involve large
and small international acquisitions.
Clarion employs more than 500 staff globally and operates offices in the U.S.,
Germany, Brazil, Singapore, UAE, the Netherlands, Turkey and South Africa. The
company organises more than 200 events worldwide in various industries including
telecommunications, defence and security, life sciences, oil and gas, as well
as consumer events in gaming, travel, housing and parenting.
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