Exhibition World Issue 5 - 2018 - Page 23

M & A Steve Monnington managing director Mayfi eld Media Strategies Dealmakers According to David Kieselstein, chairman of MidOcean’s private equity Executive Board and the new owner of American organiser Questex: “As opposed to narrowcast events-only businesses, MidOcean believes in the value of surrounding a market with integrated event and media assets. We focus on the customer journey, from discovery and awareness through to consideration and purchase.” Private Equity fi rm Shamrock Capital bought into Questex almost exactly four years ago and it has just sold to MidOcean Partners, which already has experience of exhibition ownership as co-owner of Penton Media which it sold to Informa in 2016. Questex has over 125 shows covering beauty, travel/hospitality, life sciences/healthcare and telecommunications but its portfolio also includes conferences and hosted buyer events as well as a broad array of complementary media and marketing services. Kieselstein’s message is in sharp contrast to the Events First strategy that dominated the UBM headlines during Tim Cobbold’s tenure as CEO and is also counter to the strategy of a number of other organisers who focus on pure exhibitions. A lot of the businesses that are coming up for sale are not the traditional exhibition model as the transactions listed below show. EH Media acquired by Emerald has a number of Buyer Business purchased MidOcean Partners Questex CloserStill Media Wild West & Chicago Vet Emerald Expositions technology focused exhibitions but also several digital platforms, which account for 50 per cent of the revenue. FC Business Intelligence, acquired by LDC (the private equity arm of Lloyds banking group) has a business model based on the development of industry-specifi c conferences, community-driven websites, newsletters and intelligence reports. Although events remain at the core of this model, the company says that its intelligence publications are gaining in importance. As well as handling the sale of pure exhibition models, here at Mayfi eld Towers we are currently representing businesses that range from high-value subscriptions models to conference driven events through to 1-2-1 forums where investors meet investment. With these types of businesses, it’s sometimes hard to engage with traditional organisers as it is not always immediately clear to them where the acquisition will fi t within their own landscape. We see organisers sitting at a crossroad where they have to make a decision whether to stick to their core business of running trade shows or diversify to businesses that have more touch-points. We believe that we are now seeing a shift away from narrow-cast events businesses and the pace of this shift will be quickened by the acquisition of multi-faceted companies, albeit with exhibitions at their core. Sector Buyer Business purchased Sector Various LDC FC Business Intelligence Healthcare UBM ECMI EH Media Tech Comexposium Coalition Media Recruitment GS Media & Events RJ Promotions shows Outdoor Nurnberg Messe Brasil Cycle Fair Leisure (Consumer) Informa CMA Shipping Shipping Messe Dusseldorf Meditech Healthcare Future plc Purch Tech Science MCI Group One CMG Various Exponent Dennis Publishing Publishing Shtab-Expo ITE non-core shows Various w w w.exhibitionworld.co.uk Conferences Various BeautyLabEducation Issue 5 2018 21