Informa Group to pay US$2.97bln to acquire gaming trade show presenter Clarion Events

Clarion Events, a privately-held United Kingdom-based firm that runs major trade shows for sectors including the gaming industry, is to be acquired in a GBP2.24-billion (US$2.97-billion) deal by London-listed Informa Group Plc, a publishing, business intelligence and trade exhibitions group. Informa gave the news to the London Stock Exchange in one of several Tuesday updates. The suitor said it would partly fund the move by an equity issuance to raise gross proceeds of GBP940 million. Clarion Events’ portfolio of projects includes the International Casino Exhibition (ICE) Barcelona. The next edition is due from January 18 to 20, 2027. Stephen Carter, Informa’s group chief executive, said in prepared remarks that the “GBP2.24-billion acquisition of Clarion, the U.K.-based owner of more than 100 B2B [business-to-business] live event brands,” would help “underscore Informa as the U.K.-listed, international leader” in that field, “with annual group revenues exceeding US$6 billion and underlying revenue growth of 7 percent plus or minus”. Lisa Hannant, CEO of Clarion Events, was quoted as saying in a press release issued on Tuesday: “Together, we see significant opportunities to accelerate growth, expand our reach and continue investing in the products, services and experiences that create value for our customers and communities around the world.” Clarion Events also said: “For customers, exhibitors, sponsors, partners and suppliers, business will continue as usual.” Ms Hannant stated: “We are grateful to Blackstone for their support and stewardship over the years, helping us invest in our people, our brands and our long-term growth.” Private investment firm Blackstone had said in a June 2017 statement that it had acquired Clarion Events, via private equity funds it managed. The terms of the deal were not disclosed. Lionel Assant, global co-chief information officer for Blackstone, was quoted as saying in Clarion’s Tuesday press release: “Since our original investment in Clarion Events in 2017, our ambition has been to build a truly global leader in events and exhibitions. “Together with the outstanding Clarion management team led by Lisa Hannant, we are proud to have created a platform with significant scale, breadth, and international reach.”