Clarion Events, one of the world’s leading event organisers, has just been bought by Blackstone.
The company employs close to 1,000 people, operates and delivers over 180 events and exhibitions in Gaming, Technology, Security, and more, and attracts more than 1 million visitors annually in 50+ countries globally.
Sky News have reported that even though the value of the deal will most likely not be disclosed to the public, sources have said that it will be just under £600m (€670m).
The Head of European Private Equity at Blackstone, Lionel Assant, has expressed the company’s delight with their investment in Clarion and stated that he believes that due to their strong management team and leading market position, coupled with Blackstone’s track record of investing in media businesses along with buy and build platforms, the business will continue to grow significantly.
This acquisition, which is happening less than three years after Clarion last changed hands, will see Blackstone as one of the largest event-owners in the UK.
Clarion also attracted other bidders including Cinven and Xio, a Chinese investment firm.