Dealmakers: Steve Monnington provides an update on this month’s media deals
Steve Monnington from Mayfield Merger Strategies summarizes this month’s mergers and acquisitions and indicates that there were significant media transactions
JThere have been a number of significant media deals this month.
Euromoney Institutional Investor, owner of the Euromoney brand, has agreed to sell the entire business to two private equity firms – Epiris and Astorg. The offer values the business at £1.7 billion, a multiple of 20x 2022 EBITDA. The joint offer will result in the business being split in two, with Astorg taking over the Price Reporting Agency business and Epiris taking everything else, including the Euromoney brand. While the event side of the Euromoney business is tiny, the deal could focus Epiris’ minds on some follow-on deals that could involve expo/conference organizers with related brands.
one in one
Informa has made significant changes to its portfolio (although exposures remain intact). Enter US publisher Industry Dive acquired from Falfuriass Capital for £323m and Lloyds List Intelligence (or 80% of it) sold to Montagu Private Equity for £308m.
Industry Dive launched in 2012 and has grown into daily and weekly publications across 27 brands including BioPharma, Banking, Cyber Security and Supply Chain with 13 million readers. Informa will create value in two primary ways: creating in-person and online events for existing brands and creating new Industry Dive brands from Informa’s existing portfolio. The acquisition will be managed as a standalone business under the Informa Tech division.
The sale of 80% of Lloyds List Intelligence sees Informa divesting one of its heritage businesses and is the second sale to Montagu in weeks after Fund Flow Intelligence was sold for £162m. Lloyd’s List Intelligence is a global provider of maritime data, information and intelligence to the shipping and shipping industries and it was this company’s merger with International Business Communications that created Informa in 1998.
The Italian Exhibition Group (IEG) acquires 50% of Deutsche Messe’s companies in Mexico, Canada and the United States. Deutsche Messe organizes eight trade shows in Mexico, two of which – Mexico Active & Sports for the fitness sector and Ecomondo Mexico for the green technology sector, are already organized in partnership with IEG, being two of IEG’s key sectors. The other six shows that will join the JV include Solar Power, Industrial Transformation, Agrotech and World Seafood. The Canadian business includes ETC Electricity Transformation and the US business includes a geoclone of the large-scale industrial event Hannover Messe.
IEG has already been active in 2022 by acquiring the Brasil Trading Fitness Fair as well as 75% of V Group, organizer of the Myplant & Garden fair for the horticulture-floriculture and gardening sector. This latest joint venture accelerates their expansion into Mexico while providing them with a gateway to North America. IEG was born in 2016 from the merger of the Rimini and Vicenza exhibition centers and, in addition to Italy and Mexico, also operates in Brazil, Dubai and China.
In another move, IEG launched a German subsidiary – IEG Deustchland – with the aim of building relationships with German associations and enhancing their ability to deliver German exhibitors to their Italian shows.
We have “grinding wars” in Germany because the private German trade fair organizer AFAG has sold Grindtec – the international trade fair for grinding technology founded in 1998 at Leipziger Messe. Grindtec faced stiff competition with the launch of Grindinghub by the Association of German Machine Tool Builders in conjunction with Messe Stuttgart, so now it’s Liepzig versus Stuttgart in the battle for hearts and minds. of this community.
In the UK, William Reed acquired the London Coffee Festival from coffee industry specialists Allegra Group. William Reed already has a stake in Allegra’s World Coffee Portal business, which provides news, reports and information on coffee trends across the world. Allegra was founded in 2008 and the London Coffee Festival, now in its 12th year, joins William Reed’s UK Food & Drink Shows and
The large hotel trade show.
Following Hyve’s exit from its Russian business earlier this year, it spun off its Ukrainian business, Premier Expo, to chief executive Anatoly Sushon. The deals, which include earn-out consideration of up to £3m, are contingent on future profitability and Hyve has agreed to continue supporting the business with funding of up to £1.2m in as part of a demonstration of support for the Premier team and
Finally some news from the venue and a newcomer to the exhibition scene in China. Fira de Barcelona takes over the management of the Xuzhou Greenland Huaihai International Exhibition Center and the Nanchang Greenland International Exhibition Center in partnership with the construction company Greenland-Fira. They will be responsible for the commercial, technical, logistical and operational management of the venues, which have a total exhibition area of approximately 240,000 m² and plan to organize up to 40 events over the next year. The joint venture is also designing a new site of more than 100,000 m² in Shangqiu, which should be operational from 2024.
The move comes at a time when China’s Covid policy is still creating uncertainty as to when the countries exhibition sector will be allowed to open, but is part of Fira’s wider internationalization plans which will include co – organization of events and management of other sites in the world. Fira’s existing overseas business currently includes hosting 11 trade shows in various countries around the world in 2022, including the Smart City Expo World Congress.