Onex Corporation has agreed to acquire Nielsen Expositions, an operator of large, business-to-business tradeshows, from Nielsen Holdings, for $950 million in cash.
In 2012, Nielsen Expositions had revenues of approximately $183 million and an adjusted EBITDA of $97 million. Onex Partners III, Onex’ $4.7 billion private equity fund, will make an equity investment of approximately $350 million in this transaction which is anticipated to close in the second quarter of 2013.
“This is an exciting development in the history of the Nielsen Expositions business,” said David Loechner, President of Nielsen Expositions. “Onex’ experience and successful track record in executing similar corporate carve-outs and building those divisions into industry-leading businesses position it as a strong partner. We look forward to working with Onex to execute our strategic plan and to continue to grow the business to better serve the exhibitors and attendees who participate in our events, all the while providing a seamless, business-as-usual transition for our clients and associates.”
Nielsen Expositions produces more than 65 business-to-business tradeshows and conference events each year across nine end-markets, including general merchandise, sports, hospitality and retail design, jewelry, and photography. Nielsen Expositions has approximately 240 employees and operates out of four U.S. offices. The company is headquartered in San Juan Capistrano, CA. Click HERE for the Nielsen Expositions web site.
“Nielsen Expositions’ strength in the U.S. business-to-business tradeshow industry is evidenced by its high renewal rates, long-standing exhibitor relationships, and the brand strength of the underlying shows,” said Kosty Gilis, an Onex Managing Director. “This is a great opportunity to partner with David and his management team to build on the company’s market leadership position through continued expansion of its existing shows as well as select acquisitions.”
Onex Corporation makes private equity investments through the Onex Partners and the ONCAP families of funds. Onex has more than $15 billion of assets under management and is based in Toronto with additional offices in New York and London (www.onex.com).
Nielsen Holdings (NYSE:NLSN) is an information and measurement company with market positions in marketing and consumer information, television and other media measurement, online intelligence, mobile measurement, trade shows, and related properties. Nielsen has a presence in approximately 100 countries, with headquarters in New York, and Diemen, the Netherlands (www.nielsen.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-6-13
